Your Money Minute Consumers Say One Thing And Do Another 11/21/25
Nov 21, 2025
Market experts Michael Lasser and Steve Odland delve into the intriguing disconnect between what consumers say and what they actually spend. Lasser highlights how strong back-to-school sales can predict holiday retail success. Odland discusses the surprising tendency of consumers to overspend during festive seasons despite claims of cutbacks, linking this behavior to job security and a cultural drive to celebrate. Their insights reveal how consumer spending remains a major force driving the U.S. economy.
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Surveys Understate Actual Holiday Spending
- Despite survey claims of cutting back, holiday and back-to-school spending tend to move together and remain strong.
- Michael Lasser and Steve Odland note consumers often spend more than they say, supporting retail resilience.
Use Back-To-School As A Retail Barometer
- Use back-to-school spending as a leading indicator for holiday retail performance.
- Expect holiday sales to mirror strong back-to-school patterns despite survey pessimism.
Consumer Spending Drives The Economy
- Consumers historically ease up on stated caution and still spend during events and holidays.
- Steve Odland highlights that consumer behavior makes up about two-thirds of U.S. economic growth.