Nearly half (44%) of Australians are planning to spend less this holiday season, new Afterpay research reveals.

With one in three Aussies saying they feel pressure about holiday expenses, many are shifting toward more intentional spending with more than half (55%) planning to spend under $750.

Thirty per cent of holiday shoppers also plan to scale back the number of gifts they give this year, prioritising quality over quantity.

Popular items on holiday wish lists include clothing and footwear, toys, books, and home decor.

Afterpay Country Manager Katrina Konstas said many shoppers are rethinking their approach to holiday spending and opting for smarter, more deliberate strategies.

"Australians are becoming savvier than ever this holiday season. Cost-of-living pressures have made people much more strategic... Despite the challenges, Aussies still want to give thoughtful gifts and prioritise self-care, which shows the resilience of the festive spirit," Ms Konstas said.

This comes as CBA's household spending indicator shows household spending has recorded its 12th consecutive rise, with a lot of growth attributed to travel, tech and gaming.

How Australians are getting strategic with holiday spending

To maximise value and control, shoppers aren't waiting until December, with 67% saying they will complete most of their buying between September and November.

Cost management is top of mind for many, with 56% choosing to spread costs over time, while 53% are avoiding last-minute rushes through planning ahead.

Timing purchases to coincide with sales events is also a motivator in early holiday shopping. Almost half (45%) of shoppers, and 61% of those planning to spend more, are waiting for discounts before committing to major purchases.

Last year, nearly 40% of Afterpay users took advantage of Black Friday and Cyber Monday deals, with 29 November standing out as the peak day for holiday shopping.

The general trend has seen Boxing Day lose its mantle as the year's number-one shopping event.

Afterpay's findings are based on a nationwide survey of 2,202 adults and 251 retail decision-makers, with a sample nationally representative by age, gender, and state.