Shop Smarter This Season with Holiday Shopping Trends

Despite higher prices, holiday shopping in 2024 is in full swing. While inflation may have settled back into a manageable range this year, the higher prices created over the previous years seem to be here to stay. Seasonal trends reflect our new pricing reality along with the excitement that comes every Christmas season.

Holiday shopping data tells us that about 30% of families started gift buying in October this year. However, according to a PissedConsumer.com survey about shopping during the season, only 14% of consumers are willing to wait until December to gather gifts in earnest.

Whenever you begin your holiday shopping, 2024 promises to be a year of savvy buying and plenty of Christmas fun. Fortunately, a few strategic holiday shopping insights can reduce the stress — and potentially overspending — during this busy season.

Budget Planning and Deal-Seeking

Holiday shopping trends and statistics are consistent — shoppers have a budget this year and plan to stick to it. Only 14% of shoppers are heading into the holiday with no budget at all, according to a Tapcart holiday shopping survey.

Consumers are getting creative to save money and still make the season bright. Some shoppers have turned to overseas vendors for lower prices, and 18% of consumers plan to buy Christmas gifts on websites like Temu and Shein.

Others seek loyalty rewards by signing up for website and store loyalty programs, shopping deliberately when specific items go on sale, and using points, coupons, and cashback programs to stretch holiday dollars a bit further. Being intentional in shopping, planning, looking for special offers, and taking extra time can definitely pay off.

Extended Shopping Season

Holiday shopping trends this year include spreading purchases out over time, with up to 6 in 10 shoppers starting well before December. As stores gear up for holiday shopping, they often discount merchandise to make room for the November and December specials.

Some shoppers have decided to buy holiday items before Halloween and Thanksgiving to take advantage of discounts unrelated to holiday shopping and to spread out their budgets. Spending a bit every month allows shoppers to plan purchases, take advantage of special offers, track prices, sort through clearance, and avoid a last-minute frenzy that can lead to blown budgets.

Black Friday Losing Its Relevance

Once a staple of holiday shopping, Black Friday is losing its power position in retail. Holiday shopping statistics offer many explanations for why this is occurring. Consumers are shopping earlier and seeking discounts well before — and after — the Friday after Thanksgiving.

Consumers are also primarily shopping online. 62% of shoppers plan to buy mostly online this year, often taking advantage of buy-now-save-later specials. This is likely why spending on Cyber Monday far outstrips Black Friday. Shoppers enjoy the convenience of tracking and comparing prices, ordering online, and taking advantage of daily and weekly specials — something one-day Black Friday sales can’t compete with.

Buy Now, Pay Later

Many families are stretching their holiday budgets by delaying payments with buy now, pay later options. Consumers working with a limited budget can select items and arrange to pay for them using smaller installment payments rather than trying to pay for them in a single, expensive transaction.

Of course, it’s important to be mindful of the fees and interest you’re paying when you select the buy now, pay later options. It’s easy to overspend, counting on funds you haven’t earned yet, and buying too much with installment plans can lead to debt and multiple weekly or monthly payments, making strict budgets even tighter.

Social Media Impact on Holiday Shopping

Naturally, social media has a continuing and escalating impact on holiday spending. Not only are Black Friday scams and other online fraud attempts omnipresent and increasingly difficult to detect, but product hype by influences can lead to superior pricing on potentially inferior products.

Social media is well-documented as influencing shopping behavior. 56% of Gen Z will be shopping with the assistance of TikTok, and 38% of Boomers plan to check out sales and items through Facebook. For many, following favorite retailers — not just influencers — can pay off with early notification of sales, discount codes, and special offers arriving through social media accounts.

Making the Most of the Holiday Season

The holiday season is fun but expensive. By following companies on social media to find deals, subscribing to various loyalty programs, planning ahead, using payment services, and keeping close track of spending, savvy consumers make the most of the season without going over budget.