Accenture: Holiday budgets rise as shoppers chase value

NEW YORK — U.S. consumers expect to spend more on holiday gifts this year, but much of the increase reflects higher prices rather than greater confidence in household finances, according to Accenture’s 20th Annual Holiday Shopping Survey.

The survey of 4,048 U.S. consumers found that shoppers expect to spend an average of $737 on holiday gifting in 2026, nearly 12% more than last year. Thirty-one percent expect their holiday budgets to increase, while 19% anticipate spending less.

Among consumers planning to increase their budgets, 53% said they are doing so because “the cost of everything has gone up.” Only 18% of consumers expect their disposable income to improve this holiday season, down from 32% last year.

“Consumers are feeling the squeeze this holiday season, but they’re not giving up on spending. Instead, they’re becoming more intentional, seeking out promotions, comparing options and looking carefully at where they can get the most for their money,” said Kath Gramling, Accenture’s global Consumer Goods, Retail and Travel lead.

That emphasis on value could benefit mass merchants and warehouse clubs. Nearly half of consumers said they plan to buy holiday gifts through those channels. Clothing and accessories are expected to capture holiday spending from 52% of shoppers, followed by food and beverage treats and gift cards or vouchers, both at 49%.

Accenture also found a widening divide among consumers. A group it identifies as “Luxury Indulgers” expects to spend an average of $956, nearly 30% above the overall average. Accenture’s Macro Foresight analysis found that year-over-year spending growth among high-income U.S. consumers remains at 2.5%, compared with 0.5% to 1% among low- and middle-income consumers.

Retailers may also have to compete for holiday dollars earlier. Eighteen percent of consumers said they began shopping before August, nearly twice the share reported in 2025. Nine in 10 plan to start before Black Friday and Cyber Monday, compared with three in four last year.

“The holiday shopping season is no longer defined by a handful of peak shopping days,” said Kelly Askew, Accenture’s global Retail lead. “The reality is that holiday budgets are being allocated earlier than ever.”

Generative AI is also becoming part of the value hunt. Among consumers planning to use the technology for holiday shopping, 39% expect to use it to find deals, 31% to compare options and 30% to decide where to buy. Thirty-two percent expect AI to help them find the best value for their money, while 27% believe it will help them save money.

Accenture conducted the survey between August 14 and August 28.