More than a quarter of consumers (28%) plan to give an experience (like a concert) this year, up from 23% last year. It’s at the highest level since NRF included the question for the first time in 2015. More than two-thirds of consumers (70%)say they plan to shop after Dec. 25, according to NRF.
The holiday shopping season comes amid continued pressures on consumers, including inflation and interest rate hikes. Inflation continues to slow, although prices were still 7.1% higher in November than they were at the same time last year. The Federal Reserve on Wednesday again raised interest rates to offset inflation.