Expect holiday shoppers to shop earlier, look for deals more than ever this year

A holiday shopping survey offers retailers some early insights as to what they can expect this holiday season.

Seventy percent of shoppers say are looking for more deals and sales this year versus last to help them save money, according to a report by global digital marketing platform LTK. Consumers are also looking to save money by shopping earlier. Thirty-six percent say they plan to shop even earlier this year than last, and 47% plan to start buying their gifts between September and mid-October. 

LTK’s “Holiday Shopping Predictions Report” also found that over half of shoppers intend to spend the same or more on holiday gifts 2022. Clothing and accessories ranked as the top (26%) category, followed by candy/food/gift baskets (24%), toys (23%) and electronics (21%).

Other findings from LTK’s study are below.

• More than half (53%) say they plan to do the majority of their shopping online.
• Shoppers are also turning to their phones for holiday shopping as 86% of consumers plan to shop from their phones. Nearly half of millennials plan to do the majority of their shopping on their phones.
• Shoppers are focusing on self-care and their homes after a stressful year, with 61% of  anticipating spending more or the same on shopping for themselves and their homes for holiday 2022.
• The top categories consumers are buying for their homes this holiday season are candles, decor and electronics.
• Seventy-two percent of consumers say their shopping originates from social media. The figure is even higher for millennials (81%) and Gen Z (83%).
• Creators are also helping drive in-store traffic during the holidays, with 45% of millennials and 42% of Gen Z shopping in-store based on their recommendations.