Consumers plan on spending more this holiday season: Survey

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PwC released its 2023 Holiday Spending Outlook, which showed 40% of consumers plan on spending more than they did last year. Some surprises from the outlook include an increase in spending from Gen-Z versus baby boomers, who plan to spend 4% less than last year, as well as Gen-Z's proclivity to shop in-person. Kelly Pedersen, PwC US Retail Leader, joins Yahoo Finance to break down the outlook and what trends are emerging from consumers for the upcoming holiday shopping season.

Pedersen summarizes many of the trends, saying "we are seeing this movement towards a younger generation of shoppers and their willingness to spend more on the holiday season."

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