It’s no secret that costs are rising across the board for many things in 2025. It is estimated that all items have increased in price by 23.4% while the bare necessities increased by 31.6%. This alongside many other factors has caused a drastic cut in the amount of discretionary income individuals are able to spend. Unfortunately, this usually has a substantial negative outcome on holiday spending, especially for younger generations. Because younger generations tend to get hit hardest by economic downturns, they have taken up some new habits to try and make Christmas happen. So, what kind of changes are younger generations making and how can businesses prepare for it?
One major change is the obvious shift to digital purchasing. Since younger generations use their phones more, that also means purchasing is likely going to be centered around phones. However, a whopping 71% of consumers expect companies to offer personalized interactions while they shop. By not having that, consumers are much more likely to find products elsewhere. Furthermore, this online-centered mindset has aggregated most shopping around Thanksgiving and Cyber Monday specifically. It’s currently estimated that 80% of holiday shopping happens between this 5-day period.
Ultimately, keeping up with a rapidly changing consumer market can be a nightmare. In order to keep up, market insights are essential. Companies like Equifax offer both webinar and personalized sessions to ensure that you not only understand trends, but can reinforce them into your business specifically. If you want to ensure your businesses are best equipped to make the most out of the holiday, taking advantage of Equifax insights is the smartest way to do so.
Source: Equifax
