Holiday Spending Surges Despite Price Sensitivity, ICSC Survey Finds — International Council of Shopping Centers (ICSC)

Event summary

92% of U.S. adults (246 million people) spent an average of $1,081 on holiday-related goods and services in 2025.
47% of shoppers spent more than in 2024, with Gen Z leading the increase at 62%.
63% of consumers were more selective due to higher prices, with 68% managing costs through budgeting tactics.
Brick-and-mortar retail dominated, with 90% of shoppers making in-store purchases and 75% visiting malls or shopping centers.
47% of shoppers used AI-powered tools for price comparisons and gift ideas, highest among Gen Z (67%) and Millennials (59%).

The big picture

ICSC’s 2025 Post-Holiday Consumer Survey highlights a resilient retail sector where consumers prioritized experiences and value despite economic pressures. The data underscores the enduring role of physical stores and the growing influence of AI in shaping purchasing decisions, reflecting broader trends in consumer behavior and technological integration within the retail industry.

What we're watching

Price Sensitivity: How sustained price sensitivity will impact retail strategies in 2026, particularly among value-driven consumers.
Brick-and-Mortar Resilience: Whether brick-and-mortar retail can maintain its dominance amid evolving consumer preferences and digital transformation.
AI Adoption: The pace at which AI-powered tools will become standard in holiday shopping, especially among younger demographics.