November 2025
The holiday shopping blitz is upon us — or it is? This year’s month-long shopping sprint will look different for many consumers as a slowing job market and overall economic uncertainty put a damper on this critical retail shopping season. Experts are watching for signs of changes in consumer spending patterns and sentiment as the official 2025 holiday shopping season begins.
A deep dive into holiday spending reports, surveys and predictions show some common themes — and there’s no sugarcoating the sentiment. Think value. Cutting the budget. Staying out of debt. Not exactly a warm, comforting holiday message as we start this big retail month, but stay tuned for more as we roll into next week! A few tidbits from this Retail Dive story:
- Consumer optimism is down and has expanded into high-income households, according to a William Blair This is a notable expansion of the pain and a sign that economic uncertainty is more widespread.
- U.S. job layoffs are at a 22-year high according to Challenger, Gray & Christmas, Inc.
- Consumer confidence fell 6% in November due to lower expectations for business conditions and a deterioration in personal finances.
- Younger shoppers are reporting personal budget cuts in greater numbers.
On the retail side, ICSC is predicting 3.5% to 4.0% retail growth for the holidays as shoppers prioritize value and experience.
