US Holiday Shoppers Trim Spending, Protect Key Occasions: Barclays

What happened

American shoppers are cutting back on holiday spending but are not giving up holiday purchases altogether, according to a Barclays survey reported by Retail Customer Experience.

The survey, released by Barclays as a press release, found that consumers are adjusting their travel plans, giving priority to everyday expenses and using loyalty rewards to cover holiday costs. More than half of respondents, 56%, have skipped a holiday gathering because they could not afford it, or said they would do so.

Doug Villone, head of US Cards and partnerships at Barclays US Consumer Bank, said consumers are "being deliberate about how they preserve the holiday experiences that matter most to them." He added that they are "adjusting where they spend, finding new ways to stretch their budgets and putting rewards to work across a broader range of expenses."

Why it matters

The findings describe a shift from blanket restraint to selective trade-offs. Shoppers are not simply spending less. They are deciding which moments to protect, which costs to defer and which benefits, such as rewards balances, to apply. That makes the holiday period a test of how well brands, card issuers and retailers help customers make those choices with confidence.

For leaders in experience and service design, the signal is that value perception is being rebuilt in real time. Offers, loyalty mechanics and travel or gathering-related services are likely to be judged against a tighter personal budget. Organisations that understand which occasions customers prioritise will be better placed to shape their offers around those moments.

By the numbers

• 56% of Americans surveyed have skipped, or say they would skip, a holiday gathering entirely because they could not afford it.

The Renascence take

Most coverage will read this as a story about frugality. The more useful reading is about decision architecture: customers are still buying into holiday occasions, but they are constructing the trade-offs themselves, often using rewards as the currency that makes the choice feel manageable.

The headline is not that shoppers are cutting back; it is that they are protecting a small set of moments that carry emotional weight. Behavioural economics suggests people hold on hardest to experiences tied to identity and relationships, and they cut the rest. Operators who want to stay relevant should map which occasions their customers protect, then design offers, rewards and service touchpoints around those moments rather than around generic seasonal discounting. Anything that makes a protected occasion easier to afford or simpler to plan will earn more loyalty than a blanket promotion.