Concerns about the economy are leading to more belt tightening around Black Friday this year.
According to a survey from Deloitte, shoppers plan to spend $622 between Nov. 27 and Dec. 1, down 4% from last year.
Consumers told Deloitte the spending decreases are due to the higher cost of living and financial constraints.
The survey showed 77% of consumers expect higher prices on holiday goods, and over half (57%) expect the economy to weaken in the next six months — the most negative outlook since Deloitte began tracking economic sentiment in 1997.
Deloitte found that shoppers are still taking advantage of Black Friday discounts. The survey found 60% of shoppers have already put items in their carts to purchase over the holiday shopping weekend, but 38% said they plan to only buy items that are half off.
"Value continues to be the centerpiece of the holiday season," Brian McCarthy, principal and retail strategy leader at Deloitte Consulting, said in a statement.
Generation Z is also reshaping the holiday shopping season, as 74% of those surveyed said they were turning to influencers and social media, and 43% said they were turning to AI for inspiration and product discovery.
The younger generation said they plan to spend 34% less than last year.
Seven in 10 shoppers across all income groups are engaging in value-seeking behaviors, with women (78%) more likely than men (58%) to do so.
The survey of 1,200 consumers was conducted between Oct. 15-23. The survey has a margin of error of ±1-2 percentage points for the entire sample.
Sam Barron ✉
Sam Barron has almost two decades of experience covering a wide range of topics including politics, crime and business.
© 2025 Newsmax. All rights reserved.