Chicago, IL – 24 November 2025 – North Americans are heading into the holiday season with growing financial strain and more conservative spending plans, according to the newest wave of Reach3 Insights’ Trade Winds study. The ongoing conversational research program, which uses the Rival Technologies platform, tracks consumer sentiment and behavior as tariffs and broader economic conditions evolve.
In the United States, 38% of consumers plan to reduce their holiday spending. Negative sentiment toward the current economic situation has climbed to 78%, the highest level observed since Reach3 began tracking earlier this year. Stress, pessimism and frustration continue to dominate Americans’ emotional outlook heading into the final shopping weeks of the year.
Canadian consumers are also feeling pressure, reporting a slightly lower level of negative sentiment than Americans this wave. Seventy-four percent of Canadians report negative views of the economy, marking the first time this sentiment has been less pessimistic than that of their U.S. neighbors. Additionally, 38% of Canadians say they plan to spend less this season.
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“North American consumers are adjusting their economic outlook week by week,” said Matt Kleinschmit, CEO and Founder of Reach3 Insights. “Even with inflation stabilizing in some categories, families remain cautious as energy costs rise and corporate belt-tightening continues. What stands out in the latest findings is not only how many people plan to cut back, but also how early they are starting their holiday shopping and how carefully they are choosing what matters most.”
The latest Trade Winds findings highlight several shifts across North America:
Holiday spending cuts remain widespread. Two in five Americans and two in five Canadians expect to spend less, driven by rising costs, reduced disposable income and a focus on meaningful or essential purchases.
Early shopping is now the norm. Thirty-one percent of Americans and 37% of Canadians say they have already started holiday shopping, with many beginning as early as September.
Online shopping stays strong. In the U.S., 37% plan to shop exclusively online. In Canada, one in four plan to do the same.
Selective high-value purchases persist. Nearly 30% of Americans and one in three Canadians still expect to make a major purchase this season. About one in five in each country plan to take a vacation.
Streaming subscription changes signal tightening budgets. Fourteen percent of Americans and 18% of Canadians plan to pause or cancel streaming services to save money.
Trade Winds is an ongoing pulse-check research program capturing real-time sentiment through AI-accelerated, mobile-based conversational surveys. The November wave includes results from nationally representative samples of U.S. and Canadian adults, fielded earlier this month. Access the study data here: https://www.reach3insights.com/trade-winds
Reach3 Insights and Rival Technologies are the pioneers in conversational research and the leading authority on insight communities. Rival’s mobile-first, conversational platform helps transform conventional surveys into personalized research experiences that emulate the way people communicate today. Reach3 is an award-winning full-service consulting firm that uses immersive, in-the-moment research designs and dynamic digital storytelling to deliver deep experiential insights. Amplified by AI, Rival and Reach3’s conversational research approach delivers higher response rates, deeper engagement, and faster time-to-insights. To learn why brands like Coca-Cola, Dell Technologies, Kimberly-Clark, and Warner Bros. have made the switch to conversational, please visit rivaltech.com or reach3insights.com.
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Media contact: Marie Melsheimer, marie@andremktg.com, +1-541-815-3951
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