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)
| October | November | December | |
| 2022 | 31% | 33% | 36% |
| 2021 | 30% | 32% | 38% |
| 2020 | 31% | 32% | 37% |
| 2019 | 30% | 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)
| October | November | December | |
| Online | 29% | 34% | 38% |
| In-store | 32% | 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.
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
| October | November | December | |
| 2020 vs. 2019 | 14% | 12% | 10% |
| 2021 vs. 2020 | 6% | 8% | 5% |
| 2022 vs. 2021 | 7% | 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
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.
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FAQs
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.
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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In our Ask the Expert series, we interview leaders from our partner organizations who are helping lead their brands to new heights in AdTech. Today’s interview is with Samantha Zhang, Senior Data Scientist, and Jim Meyer, General Manager of the DASH TV Universe Study at the Advertising Research Foundation (ARF). DASH is an annual tracking study conducted by the ARF to define and better understand TV audience behavior and household dynamics. What does DASH measure, and how does it help the industry understand TV consumption today? By capturing hundreds of individual- and household-level data points from each respondent in a rigorous and nationally projectable sample, DASH creates a comprehensive picture of U.S. consumer TV “infrastructure” – how America watches. Core elements in DASHElements that create context in DASHTV setsLocation | brand | smartness | service modes | sources DemographicsConnected devices Game consoles |video players | streaming devicesYesterday viewing Daypart | TV/device genre | Out-of-home viewingMobile devicesOwners | sharing usersShoppingOnline and in-store | Exposure to major RMNsInternet serviceModes | ISPs | connectivity by device Streaming audio Streaming TVSVOD/AVOD tiers and sharing | FAST Email accounts and apps Live TV Modes of access | including casting from devices Social media For example, DASH gathers: Data on every TV set, including brand, room location, age, “smartness,” and connection devices and modes Household connectivity and video service data, even in homes with no TV set Internet Service Providers (ISP) and TV service usage, including Multichannel Video Programming Distributors (MVPDs), virtual vMVPDs, streamers (ad-supported and premium), and Free Ad-Supported Television (FAST) channels Person-level ownership and usage of video-capable mobile devices, including smartphones, tablets, and laptops Measures of viewing and co-viewing across dayparts, devices, and services Additional modules covering shopping and retail media networks, streaming audio, social media, email, and apps Broad coverage and granularity make DASH a uniquely robust source of truth for practitioners across the industry, including measurement experts and ad programming strategists. DASH also reports regularly (and publicly) on key industry dynamics. DASH identified a growing segment of device-only viewers – now nearly 9 million households that watch TV, but do not own a TV set – and highlighted the implications of that trend for traditional ratings systems based only on households with TV sets. Households (HHs – million)2025 HHs (M) U.S. penetrationChange vs. 2024 (M)Total US134.8100%+2.7Connected TV (CTV)114.685%+2.1TV (Set)124.292.2%+1.1Device-only8.86.6%+1.6TV-Accessible133.198.7%+2.7 DASH called out the rise in app-based pay TV and proposed a new connection framework that better represents the modern TV world, in which linear and streaming overlap. DASH also defines the universes of households reachable with advertising. This graphic, for example, shows how all ad-supported linear and streaming properties in aggregate define the true scale of TV advertising. While 35 million households (and growing) are reachable only with streaming ads and 13 million (and falling) only with linear ads, most households are reachable with both, underscoring the importance of understanding the “overlap.” Who uses DASH data, and what decisions does it help inform? There are three primary users of DASH, each with its own use cases: Measurement providers, including Nielsen, use DASH to calibrate viewership data, turn household data into persons data (and vice versa) and estimate potential reached audiences–what the providers call media-related universe estimate (MRUEs)–for the calculation of ratings. Not surprisingly, measurement companies were the first to see the value that an independent TV universe study could provide. Media companies, including major broadcasters and streamers, use DASH to add context and color to their ad sales presentations – and to track the measurement providers, whose ratings play a major role in valuing ad inventory. AdTech companies, including Experian, use DASH to create high-value audience segments for activation. The recent accreditation of DASH by the Media Rating Council (MRC) and adoption by Nielsen as an input to its TV ratings have generated interest from a broad range of companies. We are actively pursuing new licensees and partners to make DASH more useful within, and even outside, the TV ecosystem. What does MRC accreditation signify, and why is it meaningful for DASH? MRC accreditation means DASH passed a rigorous audit conducted by Ernst & Young over many months, which validated our methodology, controls, and data quality. MRC accreditation establishes that DASH is an industry-standard dataset. While the service provider normally announces its own accreditation, the MRC took the unusual step of issuing its own release on DASH, announcing the accreditation of DASH for TV universe estimation and endorsing the study for broader, cross-media use. How does Experian use DASH data to build audiences? The segments combine specific TV usage habits and behaviors from DASH with Experian data on demographics, spending, and other contextual inputs to create a fuller view of consumer viewing behavior. They are designed to be valuable to advertisers in many categories and planning contexts – and to be customizable to fit advertisers’ media targets. The segments can be used to: Apply or suppress audiences to improve target coverage across a campaign Better align media and creative Reach elusive but high-value viewers, such as Ad Avoiders Drive valuable consumer behavior Achieve specific advertising objectives What are some practical use cases for DASH-based audiences? Here are some practical use cases for four different kinds of DASH segments in five different advertiser categories. Travel Co-WatchersA couples-only resort uses TV Co-Watching Households without Children to strengthen target reach and ad memory recallA big theme park destination uses TV Co-Watching Households with Children to reach families in moments of togetherness Home Entertainment TV Owners and Brand LoyalistsA premium TV manufacturer uses the overlap of Multi Brand TV Owners and Single Brand TV Loyalist Households to market its newest TV model to its most loyal consumers. Fast Food Screen Size ViewersA fast food chain with a high-impact new brand campaign uses Large Screen TV Viewers to better align the media and creativeThat same fast food chain uses Small-Screen TV Viewers to drive store traffic by increasing exposure of its retail campaign among on-the-go viewers Financial Services Cord Cutters A personal cost management app and a cash-back credit card target Streaming-First Cord Cutter Households to reach young, tech-savvy, cost-conscious consumers Thanks for the interview. Where can readers learn more about DASH? We started work on DASH seven years ago, and it’s been fun to watch it “grow up.” Our partnership with Experian is a big step toward putting DASH to work for advertisers and agencies. To learn more, visit our site at https://theARF.org/DASH or contact us at DASH@theARF.org. Contact us About our experts Samantha Zhang, Senior Data Scientist at ARF Samantha Zhang is a Senior Data Scientist at the Advertising Research Foundation working on the DASH TV Universe Study, with additional research spanning areas including attention measurement, digital privacy, and artificial intelligence. Jim Meyer, General Manager, DASH, at ARF Jim Meyer is general manager and co-founder of the ARF DASH TV Universe Study and managing partner of Golden Square, LLC, which advises media and research technology companies on growth strategy and development. Latest posts
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