Millennials Lead Holiday Spending as 33% Plan $500+ Shopping Sprees

TransUnion’s Q4 2024 Consumer Pulse study reveals Millennials are leading the holiday shopping charge, with 33% planning to spend over $500 – the highest among all generations. The study, surveying 3,000 American adults, shows 65% of Millennials are optimistic about their finances, surpassing the 58% overall population average. Credit cards remain the preferred payment method at 38%, followed by debit cards (31%) and cash (16%). Despite inflation concerns, 81% of Americans reported stable or increased income, with 93% expecting this trend to continue. The study indicates that most holiday shopping (67%) occurs online, with peak activity between Thanksgiving and Cyber Monday.