Visa Survey: Consumers Prioritize Physical Gifts Over Travel Despite Experience Aspirations
A new report from Visa reveals a disconnect between consumer aspirations and actual spending habits for the upcoming holiday season. While over half of surveyed U.S. adults list travel and live events as top wish-list items, only 27% plan to prioritize physical gifts, whereas significantly fewer intend to spend on experiences for others. This gap is driven by economic pressures, including rising airfares and general inflation. Visa economist Michael Brown notes that high travel costs and budget constraints are forcing consumers to be more intentional with their spending. While affluent households (income over $200,000) continue to increase travel spending due to positive equity market performance, lower-income groups are pivoting toward value and lower-cost brands. Although Visa projects a 4.5% year-over-year increase in holiday sales growth, much of this is attributed to inflationary price hikes rather than increased volume.
Topics: consumer spending trends holiday shopping inflation travel costs