The holidays are right around the corner, and consumers across the United States are preparing for the gift-giving season. With the help of in-depth and comprehensive financial data, it is easier to predict consumer behavior during the busy shopping season.
Every year, Equifax compiles key financial data points to generate its Market Pulse Index. This index provides a multidimensional view of consumer finances in the United States and is helpful for anticipating consumer behavior. In 2025, the Market Pulse Index for the average US population is 61.4. The value has decreased over the last several years, highlighting the financial challenges that Americans are experiencing.
Why is Analyzing Consumer Behavior Important?
The typical US consumer has seen a 12% decrease in median total assets over the past three years, leading to tighter budgets. For younger Americans, the financial strain is even more prevalent. For instance, severe delinquency changes are up 10% since 2019 for young city families.
These challenges have impacted holiday spending habits, especially among the younger generations. In fact, between 2024 and 2025, holiday spending dropped by 23% for Gen Z shoppers. Although other generations are maintaining similar levels of holiday spending as the previous year, the way in which people conduct their shopping has changed.
One emerging consumer behavior is the increased reliance on early shopping. 80% of planned holiday purchases are expected to happen before the end of Cyber Monday, with 39% happening in the five-day stretch between Thanksgiving and Cyber Monday.
Another popular shopping method is Buy Now, Pay Later (BNPL). This option gives shoppers more flexibility in their payments and can be used for a variety of purchases. 67% of parents say that they would use BNPL for holiday purchases like vehicles, electronics, clothing and furniture.
Amidst the ever-changing financial landscape of the United States, consumer behavior is constantly evolving. Examining financial data can paint a picture of consumer finances and purchasing patterns. Understanding these patterns is useful for retailers and consumers, especially as the hectic holiday season arrives.
Source: Equifax
