Inside the 2026 Holiday Shopper: What’s Changing and Why It Matters

Holiday shopping is changing well before Black Friday arrives. Consumers are comparing prices across platforms, looking for promotions, using digital tools to research products, and making purchase decisions over a longer period. But these behaviors do not look exactly the same across generations.

Also, Black Friday and Cyber Monday still anchor the holiday shopping calendar, but the traditional peak is becoming harder to define. Consumers are starting earlier and purchase decisions are taking shape well before the biggest sales days arrive.

So, what else is changing in holiday shopping in 2026, and how should brands respond?

#3 Economic uncertainty is changing what feels worth buying

Economic pressure does not necessarily mean consumers stop spending. It can change how they justify spending.

TGM's Global Christmas Insights Report 2025 found that most consumers planned a reasonable gift budget, with typical spending falling between $100 and $249. Rather than simply spending more for premium or luxury products, shoppers were placing greater emphasis on quality, usefulness and convenience.

Looking at e-commerce trends in 2026, consumers show different purchase priorities across countries, but one pattern is consistent: clothing & accessories remain the top online purchase category across Europe and America. Everyday, practical products continue to make up a significant share of what consumers buy online.

Salsify's 2026 Holiday Pulse adds another layer to this value-conscious behavior. 27% of shoppers said they are choosing more practical or useful gifts in response to current events.

Taken together, these findings suggest that economic uncertainty is not simply putting a brake on holiday spending. Instead, it is making consumers more selective about where their money goes. Price, quality, and usefulness all play a role in how shoppers decide whether a purchase is worth making.

In other words, uncertainty does not always mean “spend less.” Consumers may instead ask: Is this purchase useful? Is it worth the price? Will it make life easier? Does it feel meaningful?

The takeaway: Value is broader than a discount. Price still matters, but brands also need to communicate why a product is worth buying in the first place.

#4 Digital convenience and physical shopping are becoming one journey

The growth of e-commerce does not mean physical shopping has disappeared. In fact, 2026 holiday research points in the opposite direction.

PwC found that 64% of consumers are prioritizing screen-free gifts (N=4,093), rising to 78% among Gen Z. Its research also highlights renewed interest in physical stores and in-person experiences during the holiday season.

Figures from Basis indicated that 42% of consumers plan to shop equally online and in person, while another 34% plan to shop mostly online with some in-person shopping.

This raises a more interesting question: Are consumers really choosing between online and offline? For many shoppers, the answer is both. A consumer might discover a product on phone, compare prices online, visit a physical store to see it in person, and eventually purchase through an app.

The channels are different, but the shopping journey is connected. Convenience and physical experience are not necessarily competing priorities. Consumers can use digital channels for speed and comparison while still looking for stores, experiences and human interaction during the season.

Consumers do not all experience the shopping journey in the same way. Generational differences become particularly important when brands decide where to communicate, what to emphasize and which parts of the shopping experience need the most attention.

TGM E-commerce Insights 2026 surveyed 7,077 consumers across the U.S., UK, Poland, Germany, Italy, France and Spain, using Computer-Assisted Web Interviews (CAWI). Results were weighted to reflect national demographics.

Here are some of the clearest differences.

Gen Z starts with mobile

For Gen Z consumers aged 18–24, smartphones are a central part of the online shopping journey.

Looking at TGM's Gen Z consumer behavior research, 73% primarily discover products through mobile channels, based on 1,141 respondents aged 18-24. The same group also shops online regularly, about two to three times per month.

Price remains the strongest purchase consideration for this group, with 67% prioritizing the best overall price. Free or low-cost shipping follows in the 2nd place, and fast delivery stays in the top 3. These findings are part of a wider picture of Gen Z online shopping habits.

Gen Z may be willing to compare several options, but the experience needs to remain quick and easy once they are ready to buy. For brands, this means mobile should not be treated as a smaller version of the desktop shopping experience. It may be the starting point of the entire journey.

Millennials combine value with a broader shopping routine

Millennials share many of Gen Z's expectations around value and convenience, but their shopping behavior is not identical.

TGM's U.S. comparison of Gen Z and Millennials found that both generations prioritize the best overall price and free shipping when making online purchase decisions. However, their product and payment preferences differ.

Among U.S. respondents, Gen Z consumers aged 18–24 (N=174) show a stronger preference for personal care and hygiene products, while Millennials aged 25–34 (N=176) are more likely to purchase footwear.

Payment behavior also differs.

PwC's 2026 holiday research points to a more cautious spending outlook among Millennials. Their expected gift spending is down 10% year over year, although they remain the generation with the highest overall gift spending.

The implication: Millennials may still represent significant holiday spending power, but value messaging needs to account for a more deliberate approach to spending.

Older shoppers place more weight on reassurance

The differences become even clearer when looking at older consumers.

TGM E-commerce Insights 2026 found that consumers aged 65+ also place the best overall price at the top of their online shopping priorities. Free or low-cost shipping follows in second place. But the next priority is different. Easy and reliable returns rank at 37%. Compare that with Gen Z, where fast delivery ranks higher. The difference is subtle but useful. Both generations care about value, but they may define a good shopping experience differently.

For Gen Z, the question may be: "How quickly can I get this?"

For older shoppers, it may be: "What happens if this isn't right?"

Neither expectation should be treated as universal. But the contrast shows why age-based targeting should influence more than advertising creative. To build a comprehensive strategy tailored to evolving consumer behaviors, leveraging a dedicated e-commerce market research guide can provide the necessary strategic clarity.

Together, these findings point to a holiday shopper who is more deliberate, but not necessarily less interested in spending.

The shopping journey is longer. Discovery is more fragmented. AI is becoming part of the research process. Price remains important. And different generations place different weights on convenience, speed, and reassurance.

For brands, four practical priorities stand out.

1. Start before the peak: If the shopping journey can begin weeks before Black Friday, holiday communication should not wait for the biggest sales event. Build awareness and consideration early, then adjust messaging as shoppers move closer to purchase.

2. Make value easy to understand: Consumers are comparing more options. A competitive price matters, but so do shipping costs, delivery speed, promotions, and other elements that affect the total value of the purchase.

3. Adapt the experience by audience: Gen Z may need a strong mobile-first journey and fast fulfilment. Older shoppers may need clearer product information and stronger reassurance around returns. The right strategy depends on who is actually buying.

4. Treat AI as another discovery environment: AI is becoming part of how some consumers research products and compare options. Brands should make sure their product information is accurate, consistent, and easy to understand across digital touchpoints.

Industry research can tell us where holiday shopping is moving. It can show that consumers are starting earlier, that AI is entering the journey, and that value remains important.

But there is still a gap between what shoppers are doing broadly and what your customers will do. Your audience may behave differently by market, generation, category, or purchase occasion.

For example:

• Which holiday offers will attract your customers?
• Where will they look for gift ideas?
• What will receive more of their year-end spending?
• Will Gen Z and older shoppers respond to the same promotion?
• How will holiday purchase intentions differ across markets?
• Which shopping barriers could prevent conversion?

These are questions that broad industry reports cannot answer on their own. They require fresh consumer data from the audience you actually want to understand.

TGM Omnibus Research provides a practical way to get those answers without running a full standalone study. An omnibus combines questions from multiple businesses into one shared consumer survey, so each brand or agency can add only the questions it needs and receive results for those questions. By sharing the survey infrastructure, businesses can collect focused consumer feedback faster and more cost-effectively than commissioning a separate custom survey.