In Visa's latest read on consumer behavior, researchers at the payments giant found shoppers approaching the holiday season with a higher level of concern about fraud and security. They're also eyeing more cross-border opportunities to make purchases and, similar to other recent surveys, they are seeking out deals with a values-focused mindset.
Visa also revealed that there "may be a 'Secret Sant-AI' behind your presents this year."
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The survey, commissioned by Morning Consult and polling more than 1,000 U.S. adults, found 41 percent of respondents said they wouldn't tell someone that AI helped choose their gift, "as more shoppers quietly hand AI the job of finding gifts and tracking down deals," the report noted. The survey showed that 54 percent of respondents said they have already used AI for at least one shopping task, which is up from 47 percent in last year's survey.
The report's authors said the data "paints a picture of consumers juggling persistent cost pressures, evolving technology and heightened fraud concerns, while still finding ways to check every box on their gift lists."
Digging deeper into the findings showed that AI is playing a more important role, and consumers are using it for practical purposes such as comparing prices (61 percent), checking availability (59 percent), finding discounts (57 percent) and suggesting gift ideas (54 percent). "Nearly a quarter say they're more comfortable using AI for shopping than they were last year," the report stated.
The report's authors said Generation Z is leading the shift. "More than eight in 10 young consumers are open to AI assistance, and 73 percent would let it suggest gift ideas—19 points higher than adults overall," the report noted.
And in line with other recent research reports , the Visa data showed a clear gap between browsing and buying. "While consumers are increasingly comfortable using AI assistants for discovery, research and decision-making, trusting one to make a purchase is a bigger leap—only 23 percent of U.S. consumers trust GenAI to handle payment transactions on their behalf," according to separate research from Visa.
"It's a familiar pattern: the technology often arrives before consumers fully trust the experience, similar to when payments moved online and again when commerce went mobile," the report's authors said.
However, the equation can shift when familiar brands are presented. Visa said its "Trust Index" showed that 61 percent of consumers polled said they trust Visa to secure an AI-powered payment—rising to 68 percent among 18- to 34-year-olds and 71 percent among weekly AI users. "As agentic commerce grows, that confidence may be what bridges the gap between AI as a shopping assistant and AI as a shopping agent," the report stated.
Meanwhile, concerns over fraud are taking a more prominent position in the consumer's mindset. Visa said the convenience of digital shopping also comes with growing unease about scams. "Nearly three in 10 shoppers say they were targeted by fraud during last year's holiday season, a figure that rises to 39 percent among Gen Z," the report stated.
In response, Visa said three-quarters of U.S. shoppers said they have changed how they shop. This includes enabling two-factor authentication (34 percent), changing passwords more often (34 percent), declining to save payment details (25 percent), switching from debit to credit cards (24 percent) and using digital wallets (21 percent).
Regarding cross-border shopping, 30 percent of those polled said they expect to buy at least one gift from an overseas seller this season. And among Generation Z, it's more than half. But it is not just about price. Of those polled, cited quality (32 percent) and uniqueness (31 percent) as the top reasons they're looking beyond U.S. borders. Seeking better deals came in with 25 percent.
In other findings, the report's authors said the cost-conscious shopping isn't going anywhere. "Eighty-four percent of consumers say they've taken at least one action to manage higher everyday costs in the past year—most commonly hunting for discounts (47 percent), cutting discretionary spending (35 percent) and trading down to lower-cost brands (33 percent)," the report stated.
"Consumers are approaching the holidays with both value and security in mind," said Michael Brown, principal U.S. economist at Visa. "They're looking for deals, experimenting with tools like AI and changing how they shop in response to fraud concerns. It's a consumer who is adapting as the shopping experience itself continues to change."
When it comes to wish lists, shoppers are "dreaming of experiences." Travel (60 percent) and live-event tickets (55 percent) topped the list of what shoppers said they are most excited to give or receive.
"Consumers are navigating a lot this season, from higher costs, new technology and real concerns about fraud," said Brown. "But they're adapting. They're hunting for deals, shopping smarter and staying alert. That resilience is the real story."
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