Modern Retail X Attest Research: Nearly 40% of shoppers say they feel ‘more negative’ about the holidays this year

A recent Modern Retail+ survey conducted in partnership with Attest, a leading New York-based consumer research platform, sheds light on how consumers are feeling about tariffs. 

Roughly 1,000 consumers were surveyed on Sept. 29 about their holiday shopping plans. While shoppers still plan to spend — roughly 38% of consumers surveyed said they plan to spend at least $500 on holiday gifts — many shoppers are feeling more negative about the holidays this year.

About 37% of shoppers surveyed said they feel “more negative” about the holidays this year. To be sure, a slightly higher percentage — 39.8% — said they feel “no different to usual.” And just 23% said they feel more positive this year.

And, when asked how concerned they are about being able to afford the holidays this year, 28.7% said that they were “moderately” concerned, while 21.1% said they were “very” concerned

In turn, shoppers are being more prudent when considering how to finance their holiday purchases. Forty-five percent of shoppers said they would use money they had saved up to finance holiday gifts. Meanwhile, 44% said they would use a credit card, and just 13% said that they would use a buy-now, pay-later service.

All of this continues to paint a murky picture for brands ahead of the holidays about what consumers want, and what they will actually spend their money on. U.S. retail sales increased more strongly than expected in August, but consumer sentiment surveys continue to indicate that shoppers have a dour outlook on the economy.