Americans are feeling the pressure from rising living costs, but they are not shying away from crypto.
A new survey on holiday shopping from Visa Inc. shows an increasing interest in digital assets as gifts, even as inflation continues to constrain disposable income and keeps consumers cautious. The contrast highlights a deeper shift in how households are adapting as the economy tightens.
Inflation is decreasing, but budgets feel tight.
Inflation has eased from its pandemic peak, but prices remain high for necessities like housing, food, insurance, and electricity.
Wages have largely kept pace with inflation, which has prevented a sharp decline in purchasing power. However, the margin is small.
After covering necessary expenses, many households have less room for investments or consumption compared to before 2022.
This has not completely stopped consumption. Instead, it has changed behavior. Consumers shop earlier, compare prices more actively, and use technology to get the most out of every dollar.
Financial confidence remains fragile, but economic participation continues. This caution is clearly reflected in how people spend money – and what they choose to buy.
Visa's survey from December shows that 28% of Americans would be happy to receive crypto as a holiday or Christmas gift, and this number rises to 45% among Gen Z.
The appeal is not about luxury. It reflects a preference for assets that feel flexible, digital, and potentially have long-term value.
At the same time, 47% of American consumers reported using AI tools to assist with holiday shopping, primarily to find gift ideas and compare prices. This signals a consumer attitude that is more focused on optimization than abundance.
Younger buyers are leading the change. Gen Z shows greater use of cryptocurrency payments, digital wallets, biometric authentication, and shops more often across borders than any other age group.
For them, crypto fits naturally into a broader digital financial identity.
The data suggests that crypto as a gift does not displace necessary purchases. Instead, it replaces traditional consumer gifts at a time when consumers are more selective.
What this says about the American economy
The combination of lower inflation and continued budget pressure points to a cautious but stable economy.
Americans are not pulling back, but they are adapting. Consumption continues, but the focus is on tools and assets that provide efficiency, opportunities, or future gains.
The increased acceptance of crypto as a gift – despite tighter economics – signals cultural normalization rather than speculative euphoria.
This also explains why digital assets continue to spark interest even in periods of economic restraint.
For the markets, the message is clear. Inflation is coming down, but confidence is not fully back.
In this void, technology and alternative assets fill a role that traditional consumption no longer does.
Americans feel pressured, but they are still betting – cautiously – on the future.