"To call a single number has lost its relevancy because there are clear winners and losers," said Steve Barr, PwC's U.S. retail and consumer leader.
"The value channel is doing very well and the premium channel is doing very well. Those retailers that are stuck in the middle — especially those retailers that aren't brand-centric and aren't experience-centric — they're struggling."
According to PwC's survey, which polled more than 2,000 consumers and 230 retailers and manufacturers between July and August, shoppers plan to spend on average $1,018 during the holidays.
But there is a huge split between shoppers based on income. Consumers who earn at least $50,000 will spend on average $1,331, nearly double that of the $681 shoppers who earn less than $50,000 plan to spend.
Aside from this income bifurcation, there are also distinct spending patterns that vary by a shopper's age. PwC argues that millennials are the "retail prize" this holiday season, with 47 percent of consumers between 18 and 34 planning to spend more. That compares to 25 percent of older shoppers.
But much of the $63 billion that PwC estimates millennials will spend this year won't go toward traditional holiday categories like apparel or consumer electronics. Instead, the group plans to spend 52 percent of its holiday dollars on experience-related purchases including travel and entertainment, compared to 39 percent of older shoppers.