As the autumn season settles in and storefronts fill up with seasonal displays, new data reveals that the festivities may look a bit leaner for millions of households this year. Nearly two-thirds of consumers across the United States plan to skip certain holiday purchases, cutting back on staple items like traditional costumes and bulk candy, according to a recent survey conducted by LendingTree. The findings point to mounting financial pressures on everyday households, as persistent economic uncertainty, stubborn inflation, and rising living costs force shoppers to reassess their discretionary spending habits well ahead of the traditional winter holiday season.
While the prospect of scaling back celebrations touches consumers across various demographics, the financial strain is not distributed evenly. The LendingTree survey highlights a stark generational divide when it comes to funding seasonal fun. Younger consumers, in particular, appear willing to stretch their budgets—sometimes to their own financial detriment—to participate in seasonal traditions.
Roughly four in 10, or 43%, of Generation Z respondents stated that they are likely to take on debt to finance their Halloween purchases this year. They are closely followed by millennials, 35% of whom reported a similar outlook. By contrast, older generations are exercising significantly more financial restraint. Only 14% of Generation X respondents and a mere 2% of baby boomers admitted they would likely go into debt for the holiday, underscoring a distinct gap in risk tolerance and available disposable income between younger and older cohorts.
For those consumers who have previously relied on credit cards or loans to fund their Halloween celebrations, the aftermath is often filled with financial remorse. Among the respondents who acknowledged taking on debt for past festivities, 51% stated that they ultimately regretted overspending. When asked why they exceeded their initial budgets, these shoppers pointed to two primary culprits: the psychological and social pressure to keep up appearances among peers and on social media, and significantly higher-than-anticipated retail prices across the board.
The reality of higher prices is backed by hard economic data from federal agencies. Prices for seasonal goods and related merchandise have climbed steadily in the months leading up to October. For example, children’s toys—which often overlap with seasonal novelty purchases and gift-giving traditions—saw a notable price spike of 4.2% between August and September alone, according to the Consumer Price Index published by the U.S. Bureau of Labor Statistics. When compared against figures from the same period a year prior, unadjusted consumer price index figures reveal that toy prices surged by 6.6% in September, adding further friction to family shopping lists.
In response to these escalating costs, a large segment of the consumer base has altered its purchasing strategy, turning toward early-bird shopping and aggressive discount hunting to stretch their limited purchasing power. Data from an Ibotta consumer survey indicates that nearly half of respondents—approximately 45%—feel their personal financial situations are insecure. Furthermore, over 70% of those surveyed emphasized that their primary focus for the season is actively saving money rather than splurging on non-essential items.
Even among shoppers who report feeling financially stable enough to cover their seasonal expenses without immediate distress, broader macroeconomic anxieties loom large. A separate comprehensive survey conducted by Deloitte, which polled 1,500 U.S. consumers, revealed that roughly seven in 10 shoppers feel they can easily afford their current holiday purchases. However, about 42% of those same respondents harbor negative expectations, anticipating that the broader national economy will deteriorate in the year ahead.
This cautious outlook has heavily influenced where consumers choose to spend their hard-earned dollars. To maximize value and find lower price points, more than half of all shoppers are directing their holiday purchasing toward traditional grocery stores, while 40% are turning to discount retailers to secure their holiday goods without breaking the bank.
These shifting retail preferences are further corroborated by data from the National Retail Federation. According to their retail insights, nearly four in 10 consumers—roughly 39%—identified discount stores as their absolute top destination for purchasing Halloween products this season. As retailers navigate this shifting landscape, the trend toward value-seeking behavior highlights a consumer base that is increasingly budget-conscious, cautious about the macroeconomic outlook, and determined to keep discretionary spending under tight control.