According to a new Gartner survey, 32% of customers plan to start their holiday shopping before November of this year. The study reveals changing shopping habits, with only 14% of U.S. consumers planning to spend more than the previous year. The majority (64%) aim to maintain current spending levels, and 21% intend to cut back.
Consumers’ shopping patterns are shifting as firms push holiday marketing and special promotions sooner, typically beginning in late summer. Nearly a third now want to start shopping before November, which coincides with shops’ expanded sale periods.
“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. The effects of high inflation and supply chain issues in the post pandemic economy mean holiday shoppers are still on edge,” said Kassi Socha, Director Analyst, Gartner.
Online shopping
Concerns about in-store prices are driving more buyers to go online. According to the report, 20% of consumers intend to boost their online purchasing due to lower prices compared to physical retailers. This tendency has been exacerbated by concerns about increased in-store prices, with 40% of respondents expecting greater costs.
Other problems include inventory shortages (28%), limited product selection (18%), and security risks (14%).
Hybrid shopping strategies on the rise
Hybrid purchasing behaviours are becoming increasingly popular, with 57% of consumers planning to use value-added services such as Buy Online, Pickup In-Store (BOPIS), curbside pickup, same-day delivery, or expedited shipping. These services provide convenience and flexibility for shoppers who want to avoid potential in-store hassles while still receiving their products swiftly. Extended return policies are also becoming increasingly important in holiday buying, with more consumers choosing to shop early to take advantage of extended deadlines, assuring flexibility as they navigate a longer holiday shopping season.
As the holiday shopping landscape evolves, merchants respond to changing consumer desires, resulting in a more dynamic and longer buying experience.