Forty-five Percent of Consumers Will Begin Holiday Shopping Before November
The holiday season is upon us already, and if it seems as if each year the season starts earlier and earlier, you would be correct. A new survey conducted by leading savings destination RetailMeNot, in partnership with Kelton Global, reports that consumers are planning to get a big head start on shopping for holiday and winter celebrations. More than half (54 percent) of shoppers plan to begin shopping for the holidays before the Black Friday/Cyber Monday weekend this year.
- 45 percent plan to start shopping before Nov. 1.
- 25 percent plan to start shopping before October.
- 12 percent started shopping for the holidays this summer.
- 59 percent of women plan to begin their holiday shopping before Black Friday/Cyber Monday weekend, while only 48 percent of men plan to do the same.
'Tis the season for spending
Shoppers are going to be opening their wallets more during the 2017 winter holidays, and those who will spend money on gifts this year plan to spend on average $482. Additionally, consumers plan to spend more this year compared to 2016 on food ($164 vs. $133), lodging ($160 vs. $134) and entertainment ($148 vs. $85) for the winter holidays. This season, those surveyed say they plan to spend an average of $330 for children, $196 for significant others, $105 for parents, $90 for siblings and $57 on best friends.
Deal seekers are getting savvy!
Even though consumers are willing to spend money this holiday, that doesn't mean they aren't looking for good deals. In fact, 52 percent of consumers plan to use a deal or offer when purchasing a gift for someone else. And 48 percent will shop in a store based on the deals they find. To prepare for the holidays, 47 percent of shoppers are saving money in advance, while 15 percent are even working overtime ahead of the holidays.
Should you wait?
Searching for deals year-round is certainly a successful strategy, but shoppers should reconsider making all their purchases at one time, as category deals ebb and flow between October and December. For example:
- A holiday traveler can find a discount, on average, of 33 percent off during the month of October.
- Rental cars at Budget and Avis can be found for 35 percent off and up to 40 percent off daily deals on Expedia.
- Toys, home decor and apparel are deeply discounted early in the season.
- Sites such as Overstock and Gilt have up to 70 percent off.
- Consumers can find electronics and computers at an average of 38 percent to 40 percent off from Thanksgiving through Cyber Monday and then into the first week of December.
What's trending on wish lists this year?
- 53 percent are looking for clothing or shoes.
- 51 percent are scouting for electronics like the iPhone 8, Google Home, drones and smartwatches.
- 32 percent are in search of the latest toys like the Hatchimals Surprise, Nerf Rival Nemesis and FurReal Friends.
- 16 percent of shoppers are going to spend on jewelry.
- 15 percent are interested in new restaurants/entertainment.
- 15 percent of consumers prefer to spend on travel.