This December report by CreditCards.com examines consumer spending habits through the end of 2024, focusing on the role economic factors and uncertainty play, particularly with President-elect Donald Trump set to take office.

Key findings:

30% of shoppers will make more purchases than usual this holiday season

Top motivation for increased spending is fear of rising prices due to Trump’s tariffs

22% of Americans plan to make a large purchase before the end of the year, many are motivated to buy ahead of Trump’s tariffs

34% of respondents say they are “doom spending,” and stockpiling items due to feeling fearful or uncertain about the future

30% are likely to go into or worsen debt to secure purchases now

Fear of Trump’s Tariffs Is Fueling More Purchases Than Usual This Holiday Season

This November and December, 30% of shoppers plan to stock up more than usual. A total of 13% reported they plan to buy significantly more items and 27% somewhat more than they typically do during the holiday season.…