Early holiday shopping is no longer merely the province of overachievers.
With continued high prices and economic pressures, shoppers are looking for deals earlier in the season, abetted by retailers including Amazon, Walmart and Target, each of which have launched early October promotions. In fact, 64% of shoppers have either already started their holiday gift-buying or plan to do so by pouncing on October deals, according to new data from an August 2024 survey of nearly 1,900 respondents from Daymon, which powers private brand development for Advantage Solutions.
“In this current economic landscape, shoppers are trying to better manage their cash flow as they shop for loved ones for the holidays,” said Chelsey Capps, director of thought leadership for Daymon. “October has really emerged as the kickoff of holiday shopping season as retailers compete for wallet share.”
Amazon first pounced on the opportunity in October 2022 when it offered its inaugural fall sale. The retail giant is running it back again this year with Prime Big Deal Days on Oct. 8 and Oct. 9.
Also this week, Walmart kicks off its Holiday Deals campaign, which runs from Oct. 8 through Oct. 13 — a timeframe weeks earlier than previous years, according to the company. And Target has jumped in the fray with its biggest sale of the year, Target Circle Week, which launched Oct. 6 and runs through Oct. 12.
Add it all together and Black Friday appears to be losing its longtime unofficial designation as the beginning of holiday shopping sprees.
Indeed, only about one-quarter of survey respondents said they planned to wait until November events such as Black Friday and Cyber Monday to begin their holiday shopping, according to the Daymon survey.
Continued economic stress is a major factor in this trend, Capps said, with 61% of survey respondents identifying as “struggling” or “making ends meet.”
Only 4% of respondents said they were “thriving.”
“This shift toward an extended holiday shopping window with more deals is a positive for shoppers who are looking to accomplish their gift-giving with less stress,” Capps said.
Despite the extended holiday season shopping window, she said, retailers still need to account for those stocking up at the last minute to ensure sufficient inventory.
Only 10% of intrepid procrastinators said they’re waiting until December to begin their holiday shopping, per the survey. But as we all know, plans are subject to change — especially around the holidays.
