US shoppers to spend $127 bn over thanksgiving weekend: Survey

Spending sentiment remains upbeat: 36 per cent of shoppers intend to spend more than last year and 40 per cent expect to spend the same. Gen Z shows the strongest momentum, with nearly six in ten planning to increase their spending compared to 2024.

Consumers were highly motivated by deals, with 59 per cent citing discounts as their primary motivator—up two percentage points from last year. Nearly two-thirds plan to complete all or most of their seasonal shopping during the long weekend, led by Gen Z (76 per cent) and Millennials (71 per cent). Over half say their purchases will be heavily influenced by promotions rather than specific product preferences, as per the 2025 ICSC Thanksgiving Weekend Intentions Survey.

Omnichannel shopping will continue to dominate. Among those planning to shop, 83 per cent will visit physical stores—especially Gen Z—while 83 per cent will shop online for delivery. Another 58 per cent intend to order online and pick up in-store. Retail centres remain central to the season, with 80 per cent of shoppers planning visits, combining shopping with dining, entertainment, and festive experiences.

Economic pressures are shaping behaviour too. Seventy-two per cent expect to use the weekend’s sales to stock up on everyday essentials, while 70 per cent plan to buy items they previously postponed due to rising prices. Pricing remains sensitive, with two-thirds saying they will avoid retailers that significantly increase prices, and 51 per cent expressing concern about shortages.

“Despite the longer holiday season, Thanksgiving Weekend remains a vital moment for retailers and shoppers alike, and we see no signs of momentum slowing,” Tom McGee, ICSC president and CEO, said in a press release. “This year’s results reinforce what we’ve seen all year: Consumers are ready to spend, but they expect value from their dollars. Every year, there's a question about whether the long holiday weekend still matters. And every year, the answer from consumers is the same: it does.”

“Younger generations are steadily growing in their spending power, and we expect to see that reflected during Thanksgiving Weekend,” added McGee. “For many Gen Z and Millennials, this is the most important shopping period of the season… these younger consumers tend to be more value-driven, making deals and promotions especially influential.”

AI will also play a larger role, with 63 per cent of shoppers planning to use tools such as ChatGPT, Gemini, or retail chatbots to compare prices, find deals, seek gift ideas, or organise shopping. Usage is highest among Gen Z (80 per cent) and Millennials (72 per cent).

Shoppers are expected to support a mix of retailers, including large national chains (64 per cent), online marketplaces (62 per cent), and local independent businesses (34 per cent).

The survey was conducted online from November 10-12, 2025, representing a demographically representative sample of 1,015 respondents.

ALCHEMPro News Desk (SG)