How Gen Z is reshaping holiday marketing — and what brands can do about it

The holiday season is in full swing, but what is considered by many to be the most wonderful time of the year has become a complex maze for marketers. Brands this year are tasked not only with breaking through to cash-strapped consumers, but also understanding an advertising playbook being rewritten by Gen Z, a cohort that remains valuable but is simultaneously leading a seasonal spending decline.

Broad uncertainty surrounds the 2025 holidays, with 57% of consumers expecting the economy to weaken over the next six months, according to Deloitte’s annual retail survey. 

Though the majority of consumers expect prices to be higher this season, optimism remains. Shoppers surveyed by Deloitte plan to trim seasonal extras, like a new sweater to wear while hosting, so they can preserve holiday traditions, and 70% are searching for value. To meet the moment, marketers are replacing tropes of glitz and glam with a dose of realness.

“We expect consumers to be a little more budget-conscious, a little more discerning with what they’re spending, and you see that in the creative work,” said Hannah Lewman, a strategy director at Ogilvy. “Brands are responding by emphasizing the value of connection, shared experiences, more attainable human moments, less fantastical, dream holidays.”