Jin10 Data, September 3 - A survey by PwC shows that U.S. consumers' holiday spending is expected to see the largest decrease since the pandemic, as shoppers—especially Generation Z—tighten their budgets amid economic uncertainty. PwC surveyed around 4,000 U.S. consumers between June and July, and the results indicate that shoppers plan to spend an average of about $1,552 per person, a decrease of 5.3% from last year. The last comparable decline was in 2020, when the average spending fell 7.6% year-on-year to $1,187. About 84% of consumers expect to control their spending over the next six months, particularly on clothing, big-ticket items, and dining out. More than half indicated that rising prices may affect their holiday decisions.
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