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Three insights from our 2023 Holiday spending report

Published: September 14, 2023 by Hayley Schneider, Sr. Manager, Content Marketing

Three expert holiday spending insights for 2023

The holiday season is just around the corner, and retailers and marketers are gearing up for the busiest shopping period of the year. It’s crucial to understand how consumer behavior is evolving and what emerging trends to expect. Experian’s 2023 Holiday spending trends and insights report analyzes recent trends, consumer spending habits, and anticipates what’s to come in 2023 to help you deliver a top-notch shopping experience this holiday season.

In this blog post, we’ll cover three key insights from our report.

1. Consumers are shopping earlier

It’s no secret that December has always been the go-to month for consumers when it comes to holiday spending. However, holiday shopping now starts earlier, particularly with online sales.

A chart that shows holiday sales by month (October-December) from 2019-2022.

This can be attributed to a surge in promotions and deals, enticing shoppers to open their wallets ahead of time, giving a significant boost to holiday sales. Notably, Cyber Week sales have proven to be an influential factor, accounting for 8% of total consumer holiday spending.

Experian tip

Reach the right shoppers with your promotions with sell-side targeting. This powerful approach gives you control over where your ads are placed while ensuring maximum visibility through direct connections with publishers. Whether on mobile, web, or CTV, this seamless ad experience will engage your audience effectively.

2. Online sales are on the rise

The popularity of online holiday sales is continuously growing, surpassing in-store shopping. There has been a consistent 1% year-over-year increase in online sales, while in-store sales have seen a 1% decrease.

“It’s easier for consumers to comparison shop for large ticket items online that they might find at a mass retailer or office supply store. Consumers prefer to have larger, bulkier items shipped directly to their home for minimal cost. By shopping online, consumers can save time since they don’t need to wait in checkout lines.”

Anna Liparoto, Sr. Account Executive, Retail & CPG
A chart that shows online vs. in-store sales in 2022 from October-December.

Although online sales currently make up only one-third of all holiday shopping, there is immense potential for further expansion. Mass retailers and office, electronics, and games industries particularly excel in online holiday sales. While in-store purchases remain the primary choice for holiday shoppers, consumer online and offline activities intersect before the final purchase.

Experian tip

Take advantage of the surge in online shopping by diversifying your marketing channels. An agnostic identity graph can bring together device and media data, capturing valuable user insights. By gaining a holistic view of your target audience, you’ll be able to optimize your ad spend and allocate resources effectively, ultimately boosting your return on investment.

“Omnichannel targeting during the upcoming holiday season will continue to prove to be the best way to reach scale and maximize ROI across all marketing channels.”

Joe Ligé, Head of Enterprise Demand Partnerships

3. 2023 holiday spending will be on par with 2022

During the holiday season in 2022, consumer spending showed an anticipated increase, although the growth rate was slightly lower compared to previous years. October saw a surge in average consumer spending, indicating a swift response to early discounts and promotions offered by retailers.

A chart that shows the year-over-year change in consumer spending from 2019-2022 from October-December.

As the holiday season progressed, holiday spending gradually slowed down and reached a level similar to that of the previous year. Overall, there was a modest 2% growth. Looking into the future, if economic conditions remain stable in the second half of 2023, we can expect holiday spending to align with the figures from last year.

Experian tip

To truly maximize impact, consider data enrichment. By diving deeper into your target audience’s preferences and behaviors, you can better tailor your strategies and seamlessly integrate the enriched data across various channels. This allows you to unlock the true potential of your ad inventory, creating more meaningful connections with your audience.

Download our new 2025 report

Get ready for the holiday shopping season with 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

To access to all of our predictions for this year’s holiday shopping season, download our 2025 Holiday spending trends and insights report today.

Contact us today

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A deep dive with an Experian partner, M3 MI

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As a result, our partners are seeing stronger engagement, increased ad recall, and more effective outcomes because they’re speaking directly to what matters most to each audience.  Media agencies who utilize the MARS Consumer Health Study to build their strategic marketing plans are seeing a great impact by then taking those strategic targets and activating them. Those who are not activating those audiences are really missing out on bringing their strategy to consumer screens. Building stronger health campaigns with advanced segmentation What key health-related audience segments does MARS offer? While other competitors may offer caregiver segments by condition, we go further by  layering engagement levels, such as caregivers actively involved in medical decisions or those who regularly discuss care with physicians. Similarly, for patients, we don’t stop at identifying over 60 health conditions; we add behavioral dimensions like whether they’re proactive in managing their health or primarily doctor-led. These nuanced attributes allow advertisers to craft personalized campaigns that resonate on a much deeper level. We can also look at patients that are willing to pay more for an Rx not covered by their insurance, which has been a trend with GLP-1s.  How can health advertisers use these segments to craft more personalized and effective campaigns? Advertisers can use MARS’ advanced segmentation to move beyond simple demographics or condition-based targeting by layering behavioral and engagement attributes for greater relevance and impact. With MARS, a single condition can be the starting point for building multiple test-and-learn audiences to identify prime prospects. For example, GLP-1 patients have diverse treatment journeys; some pay out-of-pocket due to lack of insurance coverage, others switch brands for cost savings, and some purchase directly through patient websites. Each of these scenarios represents a distinct audience that can be created using MARS data, enabling highly personalized activation strategies. Data sourcing and quality How does MARS source and curate consumer data relevant to health audiences? Our audiences are survey-based, first-party data built from the MARS Consumer Health Study and Kantar’s trusted LifePoints Panel. We do not use medical claims, insurance data, or personal health records; our data is 100% self-reported. The study has over 5,000 different healthcare data points used to create syndicated and custom audiences. Our syndicated audiences are curated based on marketplace trends (e.g., we’ve added more information on GLP-1s), client feedback for enhancements to the MARS study, and reaching audiences medical claims data cannot (e.g., caregivers, treatment satisfaction, act based on healthcare advertising). What data quality standards do you follow, and how do you ensure consistency and reliability, especially for sensitive or regulated health-related data? M3 MI is part of M3 Global Research which is committed to transparency and high-quality data with ISO (International Organization for Standardization) certifications. These certifications demonstrate that our research practices align with international regulations. Delivering unique audience insights for better campaigns? In a crowded data marketplace, what unique attributes set MARS apart, particularly for health advertisers? We don’t just identify patients or caregivers, we uncover their motivations, preferences, and behaviors, enabling advertisers to build highly targeted and meaningful audiences that competitors simply can’t replicate. The MARS Consumer Health Study offers an extensive range of data for audience building, spanning healthy living profiles, OTC, vitamins, and prescription purchasing behaviors, as well as media consumption habits and lifestyle activities.  How MARS ensures regulatory compliance What measures does MARS take to maintain data privacy and regulatory compliance?  We take a privacy-first approach to exceed all NAI, HIPAA, and CCPA regulations. Since the data to build our audiences is self-reported via the MARS Consumer Health Study, we do not use PII data. 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By relying solely on double opt-in, self-reported data, and removing identifiers, we guarantee that our approach is 100% privacy-safe and compliant. This gives advertisers confidence that our audiences are built on ethical, transparent practices without compromising consumer trust. Success stories Could you share a recent success story where a health advertiser achieved significant campaign improvements using M3 MI’s MARS data? What were the key factors behind that success, such as ROI, engagement lift, or conversion rates? One recent success story involved a diabetes medical device advertiser trying to breakthrough in a cluttered marketing landscape. Their initial broad, non-personalized media campaign delivered lower than expected digital engagement. To address this, the company conducted segmentation research and identified three distinct patient personas. 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Interested healthcare marketers can explore additional resources by visiting our Audience Solutions page at m3-mi.com/audiences. There, they’ll find a comprehensive overview, detailed taxonomy of syndicated audiences, and other helpful materials. For personalized support or further information on customized audiences, they can also reach us directly at info@M3-MI.com. Contact us About our expert Dan Lynch, Senior Manager, Insights and Analysis, M3 MI Dan Lynch is a seasoned leader in strategic marketing insights and activation with over 20 years at healthcare focused media agencies. At M3 MI, he helps pharmaceutical companies, media partners, and agencies leverage our syndicated research to address critical business needs. Dan is also a lead of the MARS addressable audience initiative, applying his expertise in developing unique audience personas from our data and activating them across programmatic channels. 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What 2026 consumer insights mean for marketers

The 2026 consumer is reconsidering how they want to engage with businesses. Research from Nielsen anticipates that in 2026, people will spend more intentionally, think more critically, and expect more from the brands they invite into their lives. They want clear value, marketing experiences that make decisions easier, and personalization that respects their privacy and improves the moment they’re in. This change has big implications for marketers. Winning in 2026 will require understanding the motivations, concerns, and trust drivers behind consumer behavior. This means embracing a privacy-first identity foundation, deep audience intelligence, high-quality and ethically sourced data, omnichannel activation, and measurement that closes the loop across channels. Below, we break down consumer shifts shaping 2026 and how you can translate them into practical strategies for 2026. How will consumer behavior change in 2026, and how should marketers respond? 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Economic stability will outweigh values Consumers are prioritizing the realities of their household budgets going into 2026. Global consumer research shows that environmental concerns fell from the #4 global worry to #9 in 2025, while financial pressures and geopolitical issues moved to the top of the list. People still care about brand values, but economic stability is becoming a stronger driver behind how they decide what to buy, where to shop, and which brands they trust. Consumers want brands to be responsible, fair, and transparent, but they also expect brand values to align with their financial reality. 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Gen Z expects transparency, authenticity, and digital ease Values: Transparency, authenticity, responsible data use Digital behavior: Always-on, mobile-first, social and creator-influenced Decision drivers: Trust, clarity, seamless digital experiences Relevant Experian segments: Gen Z Urban Households, Gen Z Renters Millennials seek value alignment, financial flexibility, and reliability Values: Fair pricing, quality, reliability Digital behavior: Efficiency-focused omnichannel shoppers Decision drivers: Time savings, cost relief, trust Relevant Experian segments: Millennial Urban Professionals, Millennial Parents Gen X is increasingly digital, highly value-conscious, and loyal Values: Reliability, clarity, long-term value Digital behavior: Digitally engaged but friction-averse Decision drivers: Practicality, stability, predictable service Relevant Experian segments: Gen X Dual-Income Households As these generational differences shape how people discover, evaluate, and buy, one theme unites every age group: trust now determines whether a brand earns attention, data, and loyalty. 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This focus on accuracy, governance, and transparency also underpins Experian’s approach to ethical AI, ensuring innovations serve people first while giving you confidence in every decision. How can marketers apply 2026 consumer insights today? As trust becomes the deciding factor in whether consumers engage, share data, or stay loyal, marketers need clear ways to operationalize that trust. Fortunately, the insights shaping 2026 translate directly into practical actions your team can take right now. Here’s where you can start: Audit your first-party data strategy and CRM hygiene Invest in scalable, privacy-first identity resolution Tailor messaging to financial attitudes, not just demographics Use Experian’s audience segments to match consumer values, generational traits, and urbanicity Build journey-based activation across mobile, CTV, social, and CMNs Implement measurement and closed-loop analytics so every activation feeds intelligence back into planning Evaluate where predictive insight and responsible automation can reduce manual work and improve outcomes With Experian, you can reach the right people with the right message at the right moment with accuracy they can trust. Teams gain the predictive insight and responsible automation needed to act on these shifts at scale. Looking for more insights into the year ahead? If you’re planning for 2026, consumer behavior is just the starting point. Experian’s 2026 Digital trends and predictions report takes you deeper into the forces reshaping marketing — from AI moving from hype to implementation and the evolution of commerce media beyond retail. Explore Experian’s 2026 Digital trends and predictions report What role does Experian play in helping brands activate data-driven marketing? As you put these 2026 consumer insights into practice, the challenge becomes turning strategy into scaled, privacy-safe execution. Experian’s data, identity, and activation infrastructure can make the difference: Identity as the foundation: Connect first-party data to 95% of U.S. households for a unified, privacy-first view. Privacy-first activation: Engage audiences safely across every channel with compliant targeting. Actionable data depth: Combine demographic, behavioral, contextual, and household-level attributes to enrich insights. Omnichannel reach: Activate at scale across CTV, CMNs, social, programmatic, and in-store environments. Closed-loop measurement: Tie exposure to outcomes across channels, enabling more effective optimization and continuous improvement. These capabilities provide your brand with the clarity, confidence, and control necessary for future success — powered by Experian’s human-centered approach to AI, which combines privacy-first clarity, predictive insight, AI-powered simplicity, real-time intelligence, and transparent innovation to deliver trust, accuracy, and measurable performance in 2026. Build your 2026 strategy with data you can trust Those who win in 2026 will be the ones who turn shifting consumer behavior into actionable intelligence rooted in trusted identity, accurate data, and measurement that proves what works. With economic caution shaping decisions, rising privacy expectations, and omnichannel journeys becoming the norm, brands that invest now in a strong data and identity foundation will be the ones that stay visible, relevant, and resilient. Experian gives you that foundation by unifying identity, high-quality data, activation, and closed-loop measurement through a human-centered approach to AI. With privacy-first clarity, predictive insight, AI-powered simplicity, real-time intelligence, and transparent innovation, Experian helps you understand your audiences deeply, reach them responsibly, and adapt in real time as the market evolves. 2026 is coming fast. Now’s the moment to build a high-performance strategy. Connect with us FAQs What are the biggest consumer trends for 2026? The biggest consumer trends for 2026 revolve around intentional spending, value-conscious choices, low-effort experiences, and personalization that feels transparent and trustworthy. Consumers are cautiously optimistic but still managing tight budgets, prioritizing essentials, and gravitating toward brands that simplify decisions with clear value and relevant experiences that meet them across channels. Personalization remains a differentiator when it’s rooted in responsible data use and clear benefits. How can marketers use 2026 consumer insights to drive next year’s strategies? You can use 2026 consumer insights to identify your highest-opportunity audiences, match your messaging and offers to their financial reality and values, and build journey-based activation across channels instead of working in silos. Experian’s identity graph and audiences help you connect online and offline behavior into a single, actionable view. How does Experian’s identity graph help marketers in 2026? Experian’s identity graph helps marketers in 2026 by providing a privacy-first, unified view of consumers across channels, connecting first-party data to 95% of U.S. households. 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Experian Marketing Data provides the identity and insights spine that helps local advertisers: Identify the right households in each market Build consistent, people-based audiences across partners Activate with confidence and measure outcomes on the same foundation Madhive’s data marketplace builds on this identity layer, curating trusted data sets that advertisers can integrate directly into planning and activation. “We’re focused on creating perfect matches between businesses and consumers. The right data is critical, which is why we started the data marketplace. It’s a curated, opinionated take on the best data to drive outcomes for the companies that depend on us.”Aaron Brown, Chief Scientist Madhive's Maverick AI at the core of local advertising Madhive’s Maverick AI is the AI-powered operating system for local media. Built as a foundational layer behind Madhive’s entire workflow, Maverick AI connects the dots across planning, targeting, reporting, and storytelling. Its purpose is simple yet transformative: turn fragmented data and advertiser inputs into actionable insights at scale. What makes Maverick AI different? AI-driven intelligence It doesn’t just automate tasks; it analyzes signals, connects context across markets, and refines strategies as campaigns progress. Data connectivity Maverick AI integrates diverse data sources, including Experian’s trusted identity data, so local advertisers can target households with accuracy and measure outcomes confidently. Interactive transparency Beyond dashboards, Maverick AI works alongside sellers and advertisers, surfacing insights, flagging missing inputs, and turning transparency into clear next steps. Adaptability From structured KPIs to unstructured signals like lists of recent in-store buyers or priority ZIP codes, Maverick AI uses every clue to inform smarter, faster decisions. "Maverick AI exists to connect local advertisers with data like Experian’s. Its ability to collaborate and tell stories back to advertisers is one of its greatest strengths.”Aaron Brown, Chief Scientist How Maverick AI and Experian Marketing Data turn transparency into results Maverick AI turns performance transparency into aligned plans and faster optimizations for local advertisers and agencies. Paired with Experian’s identity data, advertisers get an accurate, household-level view of real people in real locations. That lets them build consistent local audiences, reach those audiences across connected television (CTV), social, and the open web, and confidently tie ad exposure back to outcomes that matter in each market. “Maverick AI is the foundational layer behind all our operations – targeting, reporting, and storytelling. It connects data across organizations and advertisers, including trusted data sources like Experian. AI works tirelessly to pick up context, connect the dots, and deliver great results end-to-end for our customers.”Aaron Brown, Chief Scientist Your next local campaign starts with Madhive and Experian Local advertising performance starts with a trusted identity foundation. With Experian data and Madhive’s Maverick AI platform, local advertisers can define the right households once, activate their campaigns across CTV and digital channels, and measure outcomes with confidence. Many brands are increasing investment in AI-powered planning to cut waste and grow on-target reach. Let’s work together to make your next campaign a success. Let's solve your local advertising challenges today About our experts Aaron Brown Chief Scientist, Madhive Aaron Brown is Chief Scientist at Madhive, where he leads Mad Labs, the company’s advanced innovation division. With a background spanning mathematics, computer science, and law, Aaron specializes in applying complex technical and theoretical breakthroughs to real-world business challenges. Before joining Madhive, he worked at the machine learning startup Intelligent Life. A graduate of Boston University with degrees in Mathematics and Computer Science, he also holds a J.D. from the University of Southern Queensland and lives in New York City. Ali Mack VP of AdTech Sales, Experian Ali Mack leads Experian’s AdTech business, overseeing global revenue across the company’s expansive tech and media portfolio. With over a decade of experience in digital and TV advertising, Ali drives strategic growth by aligning sales, customer success, and solutions teams to deliver impactful outcomes for clients and partners.   She has successfully guided teams through two major acquisitions, integrating sales organizations and product portfolios into unified go-to-market strategies. Under her leadership, Experian has consistently exceeded revenue targets while fostering collaborative, results-driven teams and mentoring emerging leaders. Working closely with finance, product, and marketing, Ali develops strategies that support a diverse ecosystem of publishers, brands, and technology partners, positioning Experian at the forefront of data-driven advertising and identity resolution.  FAQs What makes local advertising so challenging? Local advertisers face tight budgets, short timelines, and high pressure for results. They must reach the right households, tailor messaging, and optimize campaigns across zip codes. Experian’s data solutions and Madhive’s Maverick AI platform help overcome challenges like location targeting and data activation without losing signal. How does Madhive’s Maverick AI platform help advertisers achieve better results? Madhive’s Maverick AI platform centralizes operations, targeting, and reporting while enabling granular local planning at scale. It integrates Experian’s data to target households accurately, optimize campaigns across markets, and deliver measurable results, even for advertisers with limited budgets. How do Experian and Madhive foster collaboration in local advertising? Madhive’s Maverick AI platform provides transparency and clear recommendations, aligning advertisers on goals. Experian’s data solutions further enhance this process by providing a unified view of audience behavior, ensuring campaigns remain cohesive and effective across all channels. Latest posts

Dec 05,2025 by Experian Marketing Services

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At Experian Marketing Services, we use data and insights to help brands have more meaningful interactions with people. As leaders in the evolution of the advertising landscape, Experian Marketing Services can help you identify your customers and the right potential customers, uncover the most appropriate communication channels, develop messages that resonate, and measure the effectiveness of marketing activities and campaigns.

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