Consumers to start holiday shopping before November, spend same amount as last year
A large chunk of consumers are planning to begin holiday shopping before November.
Thirty-two percent of consumers said they will begin holiday shopping “between July and October," according to a new survey from Gartner, Inc. Just under three-in-10 (29%) said they plan to start in November, and 8% said they will wait until the last minute and start buying gifts in December.
While getting a head start on holiday shopping, only 14% of consumers plan to spend more than last year, with 64% of consumers planning to maintain their spend and 21% of consumers pulling back amid increased prices.
The survey found that consumers are concerned that in-store prices are not competitive with online prices, with a fifth (20%) of consumers planning to increase their online shopping behavior this year. Six-in-10 consumers say they have at least one concern about shopping in-store this holiday season, including higher prices (40%), inventory challenges (28%), selection issues (18%) and security concerns (14%), all of which saw increases in the last year.
“Over three-quarters of holiday shoppers continue to say that higher prices are what causes them to spend more for holiday gifts, not having increased discretionary spending,” said Kassi Socha, director analyst of the Gartner Marketing practice. “The effects of high inflation and supply chain issues in the post pandemic economy mean holiday shoppers are still on edge.”
[READ MORE: Here’s how retailers can drive holiday purchases]
Convenience and speed are also factors for holiday shoppers. Nearly six-in-10 (57%) consumers plan to use one or more value-added services during the holiday period, such as Buy Online, Pickup In Store, curbside pickup, same-day delivery or expedited shipping.
“Consumers want the ability to return gifts well outside of the traditional 30 to 60 day window of purchase,” said Socha. “This is particularly true for younger shoppers with over seven out of 10 reporting they would be at least a little persuaded to purchase if offered an extended holiday return policy.”
Gartner’s survey was conducted in July 2024 on 327 U.S. consumers.
