Economic optimism hit its lowest level in five months in October, according to a recent survey of U.S. consumers by Coresight Research. The data also suggests that shoppers’ fears of higher prices and their eagerness to save money got the 2025 holiday season off to a slow start, despite big promotional events like Prime Day. These concerns helped Walmart overtake Amazon as the top holiday destination during the survey period in mid-October.
On a more positive note, apparel and footwear jumped from third to first place during the survey period, beating out holiday decorations and toys and games for the top spot. And with at least a portion of consumers still planning to tackle their holiday gift lists, there’s ample time to capture shoppers’ attention.
How can retailers and brands make the most of a challenging holiday season? Coresight Research Managing Director of Technology John Harmon (above) offers these takeaways.
Stores and brands that tap into ChatGPT to ensure visibility may fare better.
Survey results confirm that AI is playing an increasingly key role in driving holiday shopping, overtaking traditional SEO. Retailers would do well to make sure ChatGPT is aware of their existence and their inventory, though admittedly it can be challenging to get a handle on when and how your content is displayed.
“OpenAI collects product information from retailers to make their products findable on ChatGPT, and recently announced partnerships with the Etsy marketplace and Salesforce and Shopify platforms, where consumers can find products,” says Harmon. “OpenAI also announced its Agentic Commerce Protocol, which helps shoppers find products on ChatGPT and check out within the chatbot.”
For simple, actionable strategies retailers and brands can use to harness the power of AI to help shoppers find them, check out Harvard Business Review’s recent article, “What Should Retailers Do About AI Shoppers?”
Stores and brands should promote private-label products and value offerings.
“Consumers in all income brackets are looking for value,” says Harmon. Be prepared for more moderate unit growth than in past years and, if you’re holding prices steady, play that up to shoppers. They’ll appreciate it.
Stores and brands that cater to affluent shoppers have an edge.
While “holiday spending will largely be driven by high-income consumers—those making more than $100,000 a year,” according to Harmon, remember that even the well-heeled crowd cares about savings. “Consumers in all income brackets are looking for value,” so emphasize your value proposition, he advises.
Higher income consumers are also more likely to use AI chatbots like ChatGPT for holiday shopping and more willing to pay for extra conveniences like rapid delivery, according to Coresight Research.
For the complete survey and other insights from Coresight Research, go to https://coresight.com/research/.
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