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55% of Consumers to Alter Holiday Spending as Recession Concerns Loom

As the biggest spending season of the year draws near, 76% of consumers believe the U.S. is currently in a recession or will enter one, and 55% of shoppers plan to navigate these conditions by changing how they spend during the holidays in a number of ways:

  • 54% will spend less per person on gifts;
  • 47% will buy discounted products; and
  • 38% will reduce the number of recipients on their gift-giving lists.

Consumers are also increasingly price sensitive: during Q3 2022, 84% noted that inflation has affected their overall spending, a 9% increase over Q2 2022. Discover more about the holiday shopping outlook in this infographic from Jungle Scout.

55% of Consumers to Alter Holiday Spending as Recession Concerns Loom

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