Gen Z shoppers are cutting back on holiday spending more than any other generation, according to recent surveys. This trend poses a challenge for retailers who rely on this age group to drive sales as they enter the workforce and earn higher salaries.

Approximately 27% of American adults currently have a side hustle, marking a decline from 36% in the previous year, with Gen Z leading participation rates. Many side hustlers are utilizing their earnings for discretionary spending rather than essential expenses, though the ongoing changes in the job market and inflation may influence future trends in side hustling.