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The change in the air isn’t only a bittersweet farewell to summer, but also the anticipation of the holidays. Most stores have already put out fall and winter merchandise enticing customers to decorate for autumn, stock up on Halloween candy, and begin hunting for gifts.
As previewed in an August poll, fewer people have begun their holiday shopping as of September than in previous years. Year-over-year tracking reveals a three percentage point decrease (from 32% to 29%) in those who have begun their shopping by mid-September. People who have begun their shopping are likely to be under 35, female, and making under $150K per year. CivicScience data also point out that having accounts with three or more retail banks increases the chances that someone has already started their holiday shopping.
Cast Your Vote: Do you think retailers do enough to make holiday shopping pleasant?
Retailers may face a more challenging season ahead, given that an early start correlates with a likelihood to spend more this holiday season.
While it is still early for most to have finished their holiday shopping, there are population segments who are there or close to it. Parents, for example, are more likely than non-parents or grandparents to say they are ‘almost done’ with their purchases (5%). Ten percent of Starbucks fans say they are completely finished with their holiday shopping, which coincides neatly with the reemergence of the beloved Pumpkin Spice Latte.
No Deal Means No Buy
While the percentage of those getting an early start on holiday shopping is lower this year, it appears consumers might be willing to spend more money on gifts. As of September 2024, 27% of holiday shoppers say they will spend more money this year. This percentage is up two points from the previous two years (25%).
One of the factors driving spending is the prospect of deals and promotions. Deals and promotions have always been a key factor for consumers when deciding where to shop, but for this year’s holiday shoppers, promotions are even more top of mind than in previous seasons. CivicScience polling notes a year-over-year decrease in consumer attachment to the idea of a specific product’s availability. People exhibit greater concern over how much they are spending and whether or not free shipping could be included.
Online Shopping Expectations
The holiday shopping season has had a strong, online current for years, something that surged during the COVID-19 pandemic. Those who do half or more of their holiday shopping online reached 57% in September of 2020 but has since decreased to 45% (the same percentage as this time last year). The primary reason people give for why they will be gift shopping online this year has to do with avoiding crowds. As reported last year by CivicScience, consumers are motivated by convenience: they want to avoid the crowds, save time, and search for the best prices, so they go online.
A separate poll analyzing the advantages of e-commerce shows that one of the main reasons people use the internet to complete their holiday shopping is because of free shipping. Free shipping is by far the most important benefit to those who holiday shop online. Consumers are also motivated by trusted websites, free or easy returns, and curbside pickup options– but not nearly as much as free shipping.
Join the Conversation: Do you prefer holiday shopping online or in person?
The holidays are coming, and consumers are getting into it. Shoppers will do a significant portion online but are most likely to seek out free shipping, special promotions, and anything that makes their experiences more convenient. If you haven’t already started, you may want to: the data say people who have already begun their shopping report being a little happier than those who haven’t started. Perhaps thinking about the holidays is adding a little pep to people’s steps.
