Omnisend Survey: 57% of Americans Expect Tax Refunds; Majority Prioritize Savings and Debt Over Big Purchases

A new survey from Omnisend finds more than half (57%) of Americans expect a tax refund this year, and for most, this isn’t money that will sit idle. Fifty-nine percent plan to use it within a month – mostly on necessities like:

• Emergency savings (39%)
• Bills or mortgage payments (32%)
• Paying off credit card debt (22%)

Moreover, 13% intend to save their entire refund.

These priorities reflect a broader collapse in consumer confidence. As of April 2026, consumer sentiment has dropped to its lowest level on record, with Americans reporting deep pessimism about both current conditions and their financial future.

“Tax refunds are arriving this year in an environment with a lot of consumer psychological strain. With ongoing economic uncertainty and global instability, people are treating this money less like a bonus and more like a buffer, something to put to work quickly to feel more secure,” says Marty Bauer, Ecommerce Expert at Omnisend.

Nearly half (48%) will spend no more than 25% of their refunds on discretionary purchases

Americans aren’t completely skipping out on treating themselves, but their spending is measured and constrained. Overall, 71% are planning to spend part of their refunds on shopping, and 48% say they’ll spend up to a quarter (25%) of it on smaller, everyday items like clothing (57%), beauty (30%), or hobby supplies (21%).

Furthermore, 15% will treat themselves to “something special.” Only 11% are planning major purchases like furniture.

“What we’re seeing is a lipstick effect reflecting a simple reality: in tougher times, people still tend to allow themselves small indulgences to regain a sense of normalcy,” says Bauer.

“For retailers, this means the opportunity isn’t in encouraging bigger spending, but in meeting cautious and fatigued consumers where they are – prioritizing value, flexibility, and products that justify their cost immediately.”