Generation Spend: Why Gen Z is Investing More in Holiday Joy
The Harris Poll Survey Highlights Rising Holiday Budgets, Shopping Trends, and AI's Role in Holiday Prep
Gen Z's $1,638 Spending Spree Signals Need for Holiday Joy
Online, December 3, 2024 (Newswire.com) - A new study from The Harris Poll reveals that Americans are gearing up to spend more on holiday gifts this year than ever before.
Gen Z's Holiday Spending Surge - Despite Financial Anxiety
Gen Z is leading holiday spending with projected purchases of $1,638 - more than double the Boomer average of $681. However, this spending comes with a psychological cost, as a significant portion of Gen Z reports holiday-related debt anxiety (60%).
"What we're witnessing is Gen Z's determination to create meaningful holiday experiences, despite financial pressures," says Libby Rodney, Chief Strategy Officer and Futurist at The Harris Poll, "Their willingness to spend more than other generations reflects both their emotional investment in gift-giving and the financial strain it can create."
Long Live Malls! Malls Capture the Holiday Spirit
Physical retail spaces are experiencing a remarkable resurgence among younger generations, with 68% of Gen Z and Millennials considering holiday mall shopping a cherished tradition. This holiday season, 40% are specifically choosing malls as their gift-hunting destination, with 65% reporting that mall shopping actually reduces their holiday-related stress and saves time. The human element plays a crucial role, as 73% of young shoppers say store staff interactions enhance their shopping experience. The mall's appeal runs particularly deep for Millennials, with 84% embracing the festive atmosphere and nostalgic charm of these retail spaces.
"What's particularly striking about our findings is that 65% of young shoppers find mall shopping reduces their holiday stress," observes Rodney. "This suggests that despite their digital nativity, Gen Z and Millennials crave the structured, experiential nature of physical retail spaces."
Holiday Faux Pas on Blast
The top holiday faux pas ranked. Gen X and Boomers are more likely to frown upon these practices compared to Gen Z and Millennials, who tend to be more forgiving about holiday behaviors seen as non-traditional.
Asking for money for online subscriptions
Gift hauls
Arriving late to a holiday gathering
Asking social media what to buy for people for the holidays
Only using social media sites to buy holiday gifts
"The generational divide in holiday shopping etiquette reflects broader cultural changes," notes Rodney. "Young consumers are rewriting traditional rules, creating new customs that blend digital convenience with meaningful gift-giving."
AI as a Holiday Helper: Gen Z and Millennials Turn to Tech for Stress-Free Shopping
Younger generations are embracing AI to navigate holiday tasks, from planning meals to creating personalized budgets. Nearly 69% of Gen Z and Millennials trust AI to help them find better deals, and 57% would even use it to craft holiday cards. However, 81% of Americans feel holiday cards should be personally signed. Despite this, AI remains a practical tool for 56% of Americans who wish it could find deals on gifts this season.
"The adoption of AI in holiday shopping represents a significant shift in consumer behavior," explains Rodney. "With 69% of young consumers embracing AI for deal-finding, we're seeing technology being integrated into holiday traditions in ways that enhance rather than replace the human experience."
About the Survey
This survey was conducted online within the U.S. by The Harris Poll from November 1 to November 2, 2024, among a nationally representative sample of 2,095 U.S. adults. This survey has a key subgroup of respondents, with 1,850 ‘Holiday Shoppers' who go holiday gift shopping for the holiday season. This research comprises 330 Gen Z (ages 18-27), 613 Millennials (ages 28-43), 521 Gen X (ages 44-59), and 631 Boomers (ages 60 and older). You can view the full report here .
About Harris Poll Thought Leadership Practice
With over 60 years of experience tracking public sentiment, The Harris Poll Thought Leadership Practice produces trendsetting research for today's top brands. Our practice helps clients uncover the trends that shape tomorrow. For more information, visit The Harris Poll Thought Leadership Practice .
About Harris Poll
The Harris Poll is a leading public opinion, motivations, and sentiment survey provider in the U.S. since 1963. Now part of Harris Insights & Analytics, we deliver data for meaningful change. For more information, visit The Harris Poll .
Source: The Harris Poll
