Majority say they plan to spend less on holiday gifts this year because of economic concerns

The majority of Americans are apparently not feeling the festive spirit and plan to spend less on holiday gifts this year, according to a new poll.

As the nation grapples with anxiety over the state of the economy, the poll by NBC News found that 55 percent said they would spend less on presents this Christmas compared to last year, while 36 percent said they would spend about the same.

By contrast, only 9 percent said they intend to spend more on gifts this holiday season.

Two-thirds of those making under $50,000 said they would spend less this year, compared to 54 percent of Americans who earn more than $50,000 and less than $100,000, according to the poll, which comes ahead of one of the busiest shopping weekends of the year.

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Its findings align with another recent survey on holiday spending that found Americans are cutting back due to widespread economic uncertainty.

Roughly two in five U.S. consumers (42 percent) say they intend to spend less this holiday season compared with 2024, according to the 2025 Economic Impact Survey commissioned by insurance company Nationwide.

And another poll from The Associated Press-NORC Center for Public Affairs Research revealed that the vast majority of U.S. adults say they’ve noticed higher than usual prices for groceries, electricity and holiday gifts in recent months.

The grim findings come on the heels of a survey this week that found Americans are growing increasingly more frustrated with President Donald Trump’s handling of the economy.

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The latest NPR/PBS News/Marist survey found that 57 percent of respondents disapprove of Trump’s economic management, compared with 36 percent who approve — the lowest rating on this issue across his two terms in office.

Weakened support on the economy is likely contributing to the Republican president’s sagging overall approval rating, which stands at 38 percent, the worst rating recorded since he left the White House in 2021.

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Roughly one in three respondents said that their personal financial situation has deteriorated in 2025, and about the same share expect their financial situation to get worse next year, according to the survey.

“This is a major problem for him,” Lee Miringoff, the director of the Marist Institute for Public Opinion, told PBS News. “When affordability is so front and center in people’s minds, that’s going to be laid at the doorstep of a chief executive.”

During an address to the nation Wednesday night, the president attempted to persuade the American people that grocery prices are “falling rapidly” and promised an “economic boom” in 2026.

Brendan Rascius contributed reporting.