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Three insights from our 2023 Holiday spending report

Updated : February 20, 2026 by Hayley Schneider, Sr. Manager, Content Marketing 4 min read September 14, 2023

At A Glance

Holiday spending is starting earlier, shifting further online, and holding steady year-over-year. Experian’s 2023 Holiday spending trends and insights report shows promotions pulling demand into October and November, steady consumer intent across the season, and growing overlap between online and in-store journeys. For marketers, that means planning sooner, connecting channels more deliberately, and measuring performance across the full holiday window.

Holiday shopping no longer starts in December. Consumers are responding to earlier promotions, moving fluidly between online and physical stores, and maintaining consistent spending despite economic uncertainty. Experian’s 2023 Holiday spending trends and insights report breaks down what’s changing and how marketers can respond.
 
Here are three holiday spending insights shaping the 2023 holiday season.

1. Holiday spending is starting earlier

Holiday momentum now builds well before December. Promotions tied to Cyber Week and early online deals are shifting spending into October and November, extending the window for planning and activation.

Holiday sales by month vs. holiday sales (October-December)

OctoberNovemberDecember
202231%33%36%
202130%32%38%
202031%32%37%
201930%33%38%

Cyber Week alone accounts for 8% of total holiday spending. Early activity rewards brands that show up sooner with relevant offers and consistent messaging. Marketers that plan for earlier holiday spending stay visible throughout the entire purchase cycle.

How can you apply these holiday spending insights to your campaigns?

Reach the right shoppers with your promotions with sell-side targeting. This approach gives you control over where ads appear while supporting visibility through direct publisher connections across mobile, web, and connected TV (CTV). Earlier reach helps keep your brand present as shoppers move from browsing to buying.

2. Online holiday spending continues to grow

Shoppers are increasingly researching, comparing prices, and planning purchases online. Online holiday spending increased 1% year-over-year, while in-store activity saw a 1% year-over-year decrease.

Online vs. in-store sales in 2022 by month (October-December)

OctoberNovemberDecember
Online29%34%38%
In-store32%32%36%

Online sales still represent about one-third of total holiday shopping, but growth opportunities remain strong, especially in categories like electronics, office supplies, and gaming. Even when purchases happen in-store, online activity often plays a role earlier in the journey.

How can you apply these holiday spending insights to your campaigns?

Support omnichannel shopping behavior with an agnostic identity graph. By connecting device and media signals, you can bring together online and offline activity, gain a clearer view of your audience, and make informed decisions about channel mix and budget allocation.

A picture of a woman with four icons surrounding her that represent a TV, cell phone, house, and email

3. Holiday spending remains steady year-over-year

Holiday spending in 2023 is tracking closely with 2022, signaling consistent consumer intent throughout the season. Last year’s early promotional response in October was followed by steady spending through year end.

Year-over-year change on average consumer spending

OctoberNovemberDecember
2020 vs. 201914%12%10%
2021 vs. 20206%8%5%
2022 vs. 20217%3%2%

    Overall holiday spending increased by 2% in 2022. That stability gives marketers room to focus on optimization and measurement, rather than reacting to short-term swings. When conditions remain consistent, it becomes easier to tie media decisions to meaningful business outcomes.

    How can you apply these holiday spending insights to your campaigns?

    Strengthen your strategy with data enrichment. Adding deeper insight into shopper preferences and behaviors helps tailor messaging and maintain consistency across channels, supporting stronger connections throughout the season.

    Key takeaways

    Holiday spending is starting earlier, driven by promotions in October and November

    Online shopping continues to grow, with online and in-store journeys closely connected

    Overall holiday spending remains consistent with last year, supporting confident planning

    Get ready for the 2025 holiday season

    2025 Holiday spending trends and insights report

    Download Experian’s 2025 Holiday spending trends and insights report, in collaboration with GroundTruth. Inside you’ll find:

    • When shoppers plan to buy
    • Why stores still drive results
    • Where marketers are placing their bets
    • How AI is shaping discovery

    Access our full set of predictions and plan your next holiday season now.

    2025 Holiday spending trends and insights

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    FAQs

    What holiday spending trends does Experian expect marketers to plan around in 2023?

    Experian’s 2023 holiday spending analysis shows shoppers starting earlier, engaging more through digital channels, and maintaining steady year-over-year spend. These behaviors extend the season and reward brands that activate sooner. For marketers, this creates a longer runway to influence demand and measure impact.

    How does Experian help marketers connect online and in-store holiday spending?

    Experian uses identity as the foundation to connect digital exposure with in-store and online purchase behavior. This approach allows marketers to see how holiday spending unfolds across channels rather than treating each interaction separately. The result is a clearer view of how media drives outcomes throughout the season.


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