According to an announcement by Visa Business and Economic Insights on October 31, 2025, American consumers are expected to spend more during the 2025 holiday season despite economic uncertainty. The annual holiday forecast for the US predicts a 4.6% year-over-year increase in total retail sales, excluding automotive dealers, gas stations, and restaurants, from November 1 to December 31, 2025.
However, after accounting for inflation on holiday items, real spending is expected to rise just 2.2% this year, down from the 2.5% real spending that occurred last season. Consumers reported in the October 2025 VBEI quarterly consumer survey that they plan to spend an average of $736 on holiday gifts, marking
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- TRENDS AND INSIGHTS Holiday spending stays strong despite economic headwinds — corporate.visa.com
In this article
Emma Carter
Emma Carter covers retail, e-commerce and the gift card shopping experience for Gift Card News.