2025 holiday spending expected to be down, Deloitte says ahead of Thanksgiving

CHICAGO (WLS) — Black Friday officially kicks off the holiday shopping season.

But people in Chicago may not be spending as much this year.

Deloitte, the consulting, financial audit, tax and risk advisory firm, released its Chicago Holiday Retail survey, and expected spending is down.

Matt Adams is a principal at Deloitte, specializing in retail.

He joined ABC7 Chicago Monday to talk about the numbers.

The average person is spending $1,553. That’s down 11 percent, he said.

The majority of shoppers surveyed are looking for deals.

Adams talked about how Artificial Intelligence comes into play and shoppers getting “influenced” online.

He also touched on the popularity of gift cards.