Holiday shopping is expected to continue despite economic uncertainty. Consumers plan to spend around $700 on gifts, a decrease of 2% from previous years. Millennials are reducing their spending the most, with a 10% decline in gift spending and a 37% decrease in travel expenses.

A significant portion of consumers, 64%, are prioritizing gifts that do not involve screens. Additionally, 29% of consumers plan to use artificial intelligence to assist with holiday shopping, a 7% increase from last year.

Further details on holiday spending and travel costs are available, including information on rising Thanksgiving airfares, which have increased by 9% to 13% compared to last year.