Holiday Shopping Blues: Why Americans Are Feeling the Pinch

Struggling to Afford Gifts and Groceries

A recent survey reveals that many Americans are finding it challenging to afford holiday gifts and groceries. The data indicates ongoing economic pressures, with people dipping into savings and hunting for bargains.

Half of Americans Find Holiday Spending Tougher

• Key Findings:
• About half of Americans report difficulty in buying holiday gifts this year.
• Many are delaying big purchases and cutting back on non-essential items.
• Similar concerns were noted in a 2022 survey when inflation peaked.

Inflation Remains a Concern

The current administration has pledged to lower prices, but inflation persists. The president’s suggestion to buy fewer toys and school supplies has not been well-received, especially by those already stretching their budgets.

Creative Measures to Make Ends Meet

• Strategies Used:
• Using "buy now, pay later" plans to spread out gift costs.
• Dipping into savings more than usual.
• Actively seeking the lowest prices (about half of Americans).

Gloomy Economic Outlook

• Survey Insights:
• Most Americans do not expect economic improvement next year.
• Only a small fraction believe the economy will get better.
• Republicans are slightly more optimistic, but overall sentiment is gloomy.

Rising Costs of Everyday Items

• Price Increases Noticed:
• Groceries: About 9 in 10 adults.
• Electricity and Holiday Gifts: Two-thirds of adults.

Survey Details

• Sample Size: 1,146 adults.
• Margin of Error: Plus or minus 4 percentage points.