Similar to other consumer surveys, ICSC’s latest read on shopper sentiment for the upcoming holiday season points to expectations for spending the same or more this year as in 2025. The organization’s annual Holiday Intentions Survey found that consumers are prioritizing holiday purchases and experiences over competing financial priorities.

ICSC is forecasting retail sales for the holiday shopping season to grow between 4.3 and 4.9 percent. Total spending is pegged to come in at $1.7 trillion.

The data showed that 78 percent of consumers said they were planning to spend the same or more than last year. And the top 10 percent of shoppers said they anticipate spending five times more than the average consumer, “underscoring the outsized influence a small group of high-spending shoppers can have on holiday sales,” ICSC said in a statement.

Tom McGee, president and CEO of ICSC, said, “Consumers have made it clear they are willing to make sacrifices for the things that matter to them this holiday season, but they are making careful decisions about when and where they spend to make that money go further. Shoppers remain resilient, but they’re more discerning and value-conscious; competitive prices, convenient shopping options and experiences that bring people together are non-negotiable for retailers to attract shoppers and give them reasons to return throughout the season.”

The survey revealed that 83 percent of consumers said they can keep up with their essential expenses, but many also acknowledged increased financial pressure.

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