Holiday 2024: Gift Cards Top Shoppers’ Lists

Have you started making your holiday gift list yet? Are you jotting down ideas for friends and family all year round? If so, you’re not alone: Nearly two-thirds (60%) of consumers told us they plan ahead before they go shopping for gifts. Planning ahead is likely to help those consumers stick to a budget, which will be important to many this holiday shopping season, especially those hoping to spend the same amount or less compared with last year. While inflation has moderated, prices aren’t getting lower, so shoppers will need to be pretty strategic, or give fewer gifts this year to keep their spending in check. 

A recent Morning Consult survey checked in on holiday shopping plans to see what types of gifts people will give in the 2024 holiday season, and how much holiday shoppers will spend. 

Gift cards are the most popular holiday gift yet again

More than half (52%) of respondents said they plan to give gift cards this holiday season, consistently the most popular type of gift given gift cards’ versatility and ability to control the cost – a $50 gift card is still a $50 gift card regardless of inflation for the giver, though it won’t go as far for the recipient. The same can be said for just giving a check or cash, though those planning to give money directly plan for higher value gifts.

Clothing and toys follow gift cards in popularity, with similar levels of spend planned for each. Far fewer consumers plan to give jewelry (20%) and personal technology (17%) this season, though their expected spend in these categories is higher than any other.

Young adults lean into fun for gifting, while older generations prefer practicality

On the whole, gifts this year will balance entertainment and practicality: 43% of respondents said they plan to give fun or entertaining gifts, and 40% said they plan to give practical gifts, including necessities. Those numbers shift dramatically across generations, with Gen Zers and millennials saying their gifts will be fun or sentimental, while baby boomers say they will gift much more practical gifts. The trope of getting socks from your grandparents lives on.

Still finding the perfect practical or entertaining gift can be a challenge, especially due to the overwhelming nature of retail stores and sites during the holiday season. This is where influencers come in. The influencer economy thrives on gift guides based on recipients’ characteristics or product themes, which simplify the search and reduce decision fatigue. Shoppers trust influencers for both their product knowledge, and their showcasing of a lifestyle that’s just a bit more exciting than one’s own: a perfect combination for offering gifting inspiration. 

Secondhand gifts are popular among young adults

Planning to shop secondhand means expecting the unexpected. Gen Zers are up for the challenge: Half of Gen Zers said they’ll “definitely” or “probably” shop secondhand for gifts and holiday clothing this year, and an even larger share (55%) said they’ll search for secondhand holiday decor. Millennials aren’t far behind, with 45% saying they’ll be searching for secondhand gifts. 

Clothes are the most popular product category in the secondhand market overall, followed by books and games, all of which make for excellent holiday gifts, even if it’s nearly impossible to plan to find a specific item in a secondhand shop.

Secondhand shoppers primarily choose resale to save money, so Gen Zers and millennials are seeking ways to save in an expensive time of year. Second to financial savings is finding unique items, and secondhand stores are great places to hunt for those humorous, fun and sentimental gifts young adults plan to give this season.