Connect with us

Press Releases

40% of Consumers Started Holiday Shopping Early This Year

Retailers are ready with ‘deep discounts, robust inventory and … the best experiences possible.’

mm

Published

on

(Press Release) WASHINGTON – Over 40 percent of holiday shoppers say they started earlier than they normally do, according to a survey released by the National Retail Federation and Prosper Insights & Analytics.

“Retailers have demonstrated their commitment and ability to ensure safe shopping environments for their customers and their associates,” said NRF President and CEO Matthew Shay. “With consumers looking to fulfill their gift lists earlier this year, retailers are prepared to meet that demand with deep discounts, robust inventory and providing the best experiences possible whether in store or online.”

Podcast: Jeffrey Samuels on How to Build a Business to Support a Lifestyle
JimmyCast

Podcast: Jeffrey Samuels on How to Build a Business to Support a Lifestyle

Maximizing Your Business Potential Is Easier Than Ever With the Zing™ Platform by Jewelers Mutual® Group
Podcasts

Maximizing Your Business Potential Is Easier Than Ever With the Zing™ Platform by Jewelers Mutual® Group

Find Out Why So Many American Jewelers Are Loving Thai Jewelry (and Gemstones)
Sponsored Podcasts

Find Out Why So Many American Jewelers Are Loving Thai Jewelry (and Gemstones)

As of early November, 59 percent of holiday shoppers say they had started making purchases, a 21 percent increase from a decade ago. Even so, there is still plenty of shopping left to do. On average, holiday shoppers say they have completed only 26 percent of their shopping so far.

Retailers’ top priority is the health and safety of their employees and customers, and these investments are paying off. A large majority (70 percent) of holiday shoppers say that, given the precautions retailers have taken for COVID-19, they have felt safe shopping in stores this holiday season.

NRF launched a consumer education campaign called “New Holiday Traditions” to encourage consumers to shop safe and shop early this holiday season. Retailers began stocking their shelves with holiday inventory and offering holiday promotions as early as October. As a result, 69 percent of holiday shoppers say they are able to find the items they are looking for all or most of the time, and 84 percent are confident they will receive items they order online in time for the holidays.

Advertisement

“Consumers have welcomed the longer shopping season, where many retailers have chosen to offer deals before and leading up to the traditional Thanksgiving and Black Friday doorbusters,” Prosper Executive Vice President of Strategy Phil Rist said. “These additional offerings translate to more options for holiday shoppers in the long run.”

Clothing and accessories are the most popular gift category, according to 54 percent of those surveyed, followed by gift cards/gift certificates (49 percent), toys (37 percent), books and other media (34 percent) and food/candy (28 percent).

Similar to last year, consumers plan to purchase between three and four gift cards, for an average spend of $163 per consumer. Total spending on gift cards is expected to reach $27.5 billion.

The 2020 top toys for boys and girls include LEGOs and PlayStation. Cars and trucks, Hot Wheels and video games are also popular gifts for boys. Barbie and dolls remain the top toys for girls.

Credit cards (42 percent) remain the top form of payment consumers plan to use this holiday season, followed closely by debit cards (41 percent). Just 15 percent of consumers listed cash as a top form of payment during the holidays, the lowest in the survey’s history and likely related to the coronavirus. Half (49%) of shoppers plan to use an alternative form of payment such as PayPal, Apple Pay, Samsung Pay or Venmo.

The survey of 8,362 adult consumers was conducted November 2 through 9 and has a margin of error of plus or minus 1.1 percentage points.

Advertisement

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Downsizing? Wilkerson Is Here to Help

Orin Mazzoni, Jr., the owner of Orin Jewelers in Garden City and Northville, Michigan, decided it was time to downsize. With two locations and an eye on the future, Mazzoni asked Wilkerson to take the lead on closing the Garden City store. Mazzoni met Wilkerson’s Rick Hayes some years back, he says, and once he made up his mind to consolidate, he and Hayes “set up a timeline” for the sale. Despite the pandemic, Mazzoni says the everything went smoothly. “Many days, we had lines of people waiting to get in,” he says, adding that Wilkerson’s professionalism made it all worthwhile. “Whenever you do an event like this, you think, ‘I’ve been doing this my whole life. Do I really need to pay someone to do it for me?’ But then I realized, these guys are the pros and we need to move forward with them.”

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular