Jungle Scout: U.S. consumers to change holiday shopping plans this year — here’s how

Rising prices have caused more than half (55%) of consumers to change their holiday gifting and shopping plans this year — and starting early appears to be one way they’re doing it.

That’s according to a new report from Jungle Scout, which found that 28% of consumers had already started holiday shopping before September. And 70% expect to start before Thanksgiving, a big increase from the 55% of consumers who gave the same timeframe last year.

Among the top ways consumers expect to reduce holiday spending is to spend less per person on gifts (54%), buy discounted products (47%), reduce the number of people they’re gifting (38%) and spend less on holiday decorating (36%).

In addition, consumers expect to reduce holiday activities/travel (34%), buy used/thrift store gifts (25%) and re-gifting/recycling gifts (21%).

Among respondents expecting to cut recipients from their holiday gift lists, the most likely to get skipped this year are self, friends, extended family and co-workers. The least likely to get cut are children, grandchildren, partner-spouse — and pets! 

Other highlights  from Jungle Scout’s “Consumer Trends Report Q3 2022” report are below.

•Three out of four U.S. consumers believe the country is in a recession or headed there, and a similar number have cut or steadied their overall spending.

•While the majority of consumers are buying less across the board, the percentage of respondents buying more of the following categories in Q3 (July through September)  increased compared t o Q2 survey data: beauty/personal care (up to 21% from 14%); pet supplies (up to 21% from 15%) and vitamins/dietary supplements (up to 21% from 16%).

•Consumers are increasingly comfortable buying products from social media. Among top platforms, TikTok has seen the most growth in potential shoppers.

•Boomers and millennials are most likely to buy products from YouTube, Gen Z prefers Instagram, and Gen X consumers are mostlikely to make purchases from Facebook