Nearly half of Americans are planning to begin their holiday shopping before Halloween this year, according to a new survey from Bankrate.
Families plan ahead for long gift lists
David Fernandez, a father of two, said his holiday gift list already stretches long, with his wife’s birthday following in January.
“My wife’s birthday is also in January, so it adds up,” Fernandez said.
He explained that looking for deals is part of his routine and that he has shopped well in advance before.
“Probably over the summer. I’d say it’s probably as early as it gets. It really depends if you’re traveling or something and if you buy something secretly and save it for later,” Fernandez said.
Survey finds shoppers concerned about higher costs
Bankrate surveyed just under 2,600 shoppers and found that 49% of holiday shoppers plan to start buying gifts before Halloween. The survey also showed 41% are worried gifts will be more expensive this year.
“The holiday season has definitely stretched out in recent years,” said Ted Rossman, a senior analyst at Bankrate.
Pandemic effects evolve into cost-saving trend
Rossman said inflation and tariffs are pushing shoppers to spread out their spending, adding that the trend first picked up during the pandemic.
“That was a lot of the supply chain concerns, feeling that if you didn’t order early, you might not get it,” Rossman said. “But it’s kind of morphed into more of this cost-saving, spread-out-your-cash-flow kind of thing.”
Retailers shift strategies to match demand
Rossman said big box stores and online retailers are responding with more early deals.
“In 2020 Prime Day was delayed from July until October. And then it went so well that now they do two Prime Days,” Rossman said.
Prices continue to rise for popular gifts
The cost of popular holiday gifts is also climbing. The Bureau of Labor Statistics reported that toy prices rose 2.2% between April and May. Toolmaker Stanley Black & Decker said in April it was raising prices by nearly double digits.
In Miami’s Miracle Mile, stores are already stocking Christmas merchandise. After hearing about the shopping trends, Fernandez said he is considering adjusting his timing but added he prefers to shop later in the year.
“I really probably do most of my shopping in the fall,” Fernandez said.
Black Friday now considered midseason
Rossman said retailers are promoting deals much earlier than in the past, reshaping the holiday shopping season.
He added that the traditional kickoff to holiday shopping has changed. “Shopping has evolved so much, that the morning after Thanksgiving is now more of a midseason shopping period,” Rossman said.
