The holiday season is notoriously a time of high spending in the United States. However, although 2024 set records for holiday spending, 2025 data is suggesting that consumers are becoming more cautious and interested in saving. These findings are important for both lenders and retailers to ensure these providers are prepared for the change in the state of consumer finances.
Currently, Generation Z is experiencing challenges in building financial stability. The volatility of the market, student loans, increasing delinquencies and high savings rates are all a direct result of these changes. Due to the changing market, most trends for the 2025 holiday season revolve around consumer saving. Early shopping during sales like Cyber Monday or Black Friday, using Buy Now, Pay Later systems, and an increase in domestic travel are all seeing a spike in consumer interest.
These trends are communicating to lenders and retailers that consumers not only need more leniency in their credit limits, but also have less spending money to use during the holiday season. In order to offset inflation, experts predict that some consumers will lean heavier on credit in order to complete their shopping. Similarly, retailers will have to shift the focus to discount-oriented sales to attract consumers like in previous years. Check out the following holiday retail trends in the infographic below, courtesy of Equifax:
Source: Equifax