Tanger CEO Steven Yarov told CNBC on Tuesday that despite declining consumer confidence and price concerns, U.S. shoppers are willing to spend this holiday season, but only if there are deals.
“Retailers are cutting prices to respond to consumers, and consumers are responding by shopping,” Yarov said on CNBC’s “Money Movers.”
Yarov said Tanger strives to provide shoppers with access to luxury brands at prices that they will always find attractive. Retailers in the company’s outlet portfolio focused heavily on promotions during the holiday period, which helped maintain foot traffic and sales.
Customers are “going to come to a place where they can buy a product at full price, maybe at a higher price point than they want to spend, but they can accept that price point because they know they’re getting a value every day,” Yarov said.
He said holiday crowds at the Tangier outlet center were strong, citing full parking lots and strong foot traffic from November to December.
“Customers feel very resilient,” he said. “They’re trying to spend money.”
Yarov’s comments came in the wake of new data showing consumers are spending more than their confidence levels suggest.
U.S. retail spending during the holiday season rose 4.2% year over year, before adjusting for inflation, according to preliminary data. visa It was released on Tuesday.
The report, which tracks payment activity since November 1, found that in-store purchases accounted for 73% of spending, while online sales led growth, up 7.8% year over year.
At the same time, emotions are still suppressed.
Consumer confidence declined in December as Americans grew increasingly concerned about persistently high prices and the impact of President Donald Trump’s sweeping tariffs.
The Conference Board reported Tuesday that its consumer confidence index fell 3.8 points to 89.1, down from an upwardly revised 92.9 in November and closer to the 85.7 level in April, when the administration introduced broad import tariffs on U.S. trading partners.
Similarly, the latest CNBC National Economic Survey released last week found that 41% of Americans plan to spend less this holiday season, up 6 percentage points from a year ago, as high prices continue to impact how and where shoppers spend their money.
Looking ahead, Yarov said retailers seem confident about demand in 2026.
“Retailers want stores. They love brick-and-mortar stores,” Yarov said, adding that as department stores consolidate, brands are increasingly seeking to control their brick-and-mortar presence.
