As Halloween decorations grace the shelves, many are wondering when to kickstart their holiday shopping. When should you begin? What are the top holiday shopping days? And just how many shoppers dive into their gift lists before October 31st?
For a significant portion of early birds, the holiday season has already begun. Some, like Terinae Holland from Mount Airy, find themselves scouting deals in September and October. “I’ll start somewhere around this time, September, October, and I’ll find myself finding deals,” says Holland. On the other hand, Rebecca Klymer-Lindsey from Wynnefield Heights prefers the November Black Friday frenzy for her shopping.
According to a recent Bankrate.com survey, 50% of holiday shoppers are likely to commence their gift hunting before the end of October, with 12% diving in even earlier, before August concludes. This trend towards early holiday shopping has gained momentum in recent years. What used to be a supply chain concern has now evolved into a cost-saving strategy embraced by the retail industry.
October ushers in not just the spirit of Halloween but also deep discounts, often aimed at online shoppers. Amazon kicks off its ‘Prime Big Deal Days‘ on October 10 and 11, while other retail giants like Target, Walmart, and Best Buy offer Black Friday-like pricing in early October. The competition for early shoppers is fierce, driven by the fear that procrastinators might take their dollars elsewhere.
Ted Rossman, senior analyst at Bankrate.com, believes this shift benefits consumers. “It gives you more opportunity to spread out your cash flow, find the best deals, lessen that impact,” he explains. Setting aside money ahead of time, even if you plan to shop later, can be a smart financial move.
The survey also reveals that about a third of shoppers expect inflation to impact their holiday purchases. Rising prices mean consumers must be more mindful of their spending. Basic necessities may take precedence over early holiday shopping, as highlighted by Donald Bird of East Falls.
Major retailers like JCPenney, Macy’s, and Walmart are also part of this early holiday shopping trend. JCPenney, with its diverse selection of products, aims to capture early shoppers seeking clothing, home goods, and electronics. Macy’s, known for its iconic Thanksgiving Day Parade, is rolling out attractive discounts and exclusive holiday collections to entice shoppers well before November. Walmart, a retail behemoth, is joining the early holiday shopping frenzy by offering competitive prices on a wide range of products, from toys to electronics. These retail giants are all vying for a piece of the early holiday shopping pie, emphasizing the importance of starting your gift hunting sooner rather than later.
In conclusion, while retailers hope to see a slight increase in sales, people are expected to be cautious with their spending this year. Early holiday shopping offers a strategy to manage costs and secure the best deals in an evolving retail landscape.