A majority of U.S. adults, 55%, say they will spend less on holiday gifts this year compared with last year, according to a new NBC News Decision Desk Poll powered by SurveyMonkey, highlighting how inflation has changed spending habits.
Only 9% say they will spend more on holiday gifts this year, while 36% say they’ll spend about the same. The results are part of broader data showing some concern about the state of the economy.
The poll found deep partisan differences in how Americans view the U.S. economy, with those differences showing up in holiday shopping sentiment, too.
More than 6 in 10 Democrats and independents say they will spend less on holiday gifts this year, compared with just 41% of Republicans. Less than a third of Democrats and independents say they’ll spend about the same as they did last year, compared with 49% of Republicans.
Income is also a predictable driver of holiday spending, with two-thirds of those making under $50,000 saying they’ll spend less, compared with 54% of those making more than $50,000 and less than $100,000 and 43% of those making over $100,000.
There are significant gender differences, too: 62% of women say they’ll spend less on gifts, compared with 48% of men.
In a separate question, 43% say they had to cut back on Christmas or holiday spending in general this year, above and beyond the purchase of gifts, as a result of recent economic conditions. Fifty-seven percent say they haven’t had to cut back on holiday spending.
The poll also finds that the economy remains among one of the most important issues — at the top of the list in the late November survey, as it has been during each of the four times the NBC News Decision Desk Poll was released this year.
The latest data finds that 64% think the country is on the wrong track, while 36% say it’s on the right track (it’s rare for polls to show majorities saying the country is on the right track, especially in the modern era).
Even so, 59% say 2025 has been « a good year » for them and their families. On personal finances, 41% say their personal financial situations are about the same as they were last year, 35% say they’re worse today, and 24% say they’re better than last year.
Asked to identify the most important economic matter to them and their families right now, 44% chose inflation and the rising cost of living. Only one other option, health care costs, got double-digit mention on that question (13%).
The NBC News Decision Desk Poll powered by SurveyMonkey surveyed 20,252 adults online from Nov. 20 to Dec. 8 and has a margin of error of plus or minus 1.9 percentage points. Percentages may not add up to 100 due to rounding.
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