US Holiday Spending Expected to Drop on Tariffs, Higher Prices

Holiday spending in the US is poised to decline this year due to Gen Z’s concerns about rising prices, tariffs and a higher cost of living, according to a survey by PricewaterhouseCoopers.

A report released Wednesday shows consumers expect to cut their seasonal spending by about 5% on average compared with 2024. That would mark the first notable drop since the pandemic hit in 2020, PwC said.