Is it really better to give than to receive? Apparently, there’s much room for debate on the topic according to a new holiday shopping trends report from Stagwell’s Harris Poll. 

The report finds that nearly half (46%) of Gen Z and Millennials would rather spend more money on themselves than others this year.  

And 66% of the two demos combined say, “The holidays offer the perfect excuse to indulge in luxuries I wouldn't normally buy for myself.” 

Over 80% of Gen Z and Millennials say they’re ready to spend this holiday season although 62% acknowledge they’re not financially prepared.  

The report also found that Amazon remains the top choice for holiday shopping among Americans, while younger consumers prefer mall visits over retailer websites. 

Additional highlights from the report include:  

•Family gifts take precedence in Americans’ holiday spending plans this year, with 83% focusing on them. 

• Gen Z and Millennials are allocating a significant portion of their budget to pet gifts, with 57% planning to do so; more than 10% are willing to spend over $100 on pet presents.  

• Two-thirds of Americans, especially young consumers, are striving for sustainable holiday shopping, with over half willing to pay extra for eco-friendly options. Americans are open to sustainable purchases but expect brands to make it convenient; 75% of Gen Z and Millennials believe brands are responsible for ensuring their sustainability during the holidays.  

• Gen Z and Millennials envision AI as a solution to their holiday-induced stress (62% feel anxious about holiday gift shopping), saving them time and money. Nearly half of young consumers are willing to pay $100 for AI to select all their holiday gifts, as they trust AI more than their own gift ideas. However, the general sentiment among Americans is that AI-picked gifts are creepy and disappointing.  

• Despite having budgets, a majority of Gen Z and Millennials view them as guidelines rather than strict rules, with almost half ending up in debt. 80% of them are willing to exceed their budget to find the perfect gift for someone they cherish.  

• Gen Z and Millennials are strategic spenders, utilizing discount days and seeking donations, finding joy in the gift-hunting process, especially Gen Z.