Nearly 1 in 3 will spend less on holiday decorations this year

American homes may look slightly less festive this holiday season, with 28% of Americans saying they’ll spend less on holiday decorations this year compared to last year, according to a new survey from Rocket Mortgage and Redfin. That’s slightly more than the 26% who will spend less on gifts, according to the survey, which the companies fielded in October.

People’s rationale for spending less this year abound, from the strictly economical (56% said they are trying save money; 44% said they are feeling uncertain about the economy), to the practical (42% said they don’t need more decorations because they have enough), to the…hey, friend, you look like you need a hug (17% said they are feeling less festive this year).

“Even small cost-saving measures, like cutting back on buying new holiday decor, reflects a broader feeling of caution when it comes to the economy,” Daryl Fairweather, chief economist at Redfin, states in the report. “People are worried about earning less money while costs go up. Americans are keeping their wallets close not because they don’t want to celebrate, but because they’re being sensible.

The decor belt-tightening jibes with other reports that consumers are economizing when it comes to holiday spending this year:

• A Deloitte Holiday Retail survey published in October reported that consumer’s average holiday spending will drop 10% from last year to $1,595.
• The same survey found younger consumers are cutting back even more, with Gen Z expected to spend 34% less this year and millennials 13% less.
• The National Retail Federation predicts consumers will spend an average of $628 on gifts this year, a 2% decrease from last year’s $641.