Holiday Shopping Earlier

Halloween items started showing up in stores in August and consumer surveys indicate many plan to start their holiday shopping as early as September this year. According to Insider Intelligence, “Half of consumers expect to start their holiday shopping before the calendar turns to November.”



Online shopping remains likely to eclipse in-person retail shopping because of convenience, reviews, and selection, as well as Amazon’s extended specials such as Prime Big Deal Days in October and Cyber Monday.

According to the 2023 Holiday Shopping Trends Report, “Price consciousness has become a defining characteristic of consumer behavior”. CNBC Supply Chain Survey shows that “retailers are ordering less and expecting the consumer to be on the lookout for discounts and freebies.” The same survey said 43% of respondents expect a lower peak season while 21% predict it will be the same as last year.

Threat of Recession Fading

Ask most people and they will tell you they are struggling to make ends meet, from the high cost of groceries, gas, housing, and childcare to the resumption of student loan repayments, and high interest rates. In a May CNN poll, 76% of respondents described the economy as “in poor shape”.

All true, but on a macroeconomic scale, the odds of the U.S. sliding into a recession are now just 15% according to Goldman Sach’s chief economist Jan Hatzius - dramatically down from the 35% risk predicted by economists last January.

“This economy is incredibly resilient, despite all the slings and arrows – despite the banking crisis, rate hikes, and the debt ceiling,” said Mark Zandi, chief economist at Moody’s Analytics. The US is creating jobs at an unprecedented rate and the labor market looks robust for the future.

Holiday Shopping Facts & Figures

Top holiday retail categories by share of shoppers

·     Clothing and accessories: 73%

·     Food/beverage, health & wellness: 70%

·     Toys and hobbies: 64%

·     Electronics and accessories: 47%

·     Home and kitchen: 36%

Top items people plan to buy for themselves

·     Food/liquor: 42%

·     Clothing: 39%

·     Shoes: 28%

·     Books: 22%

And a whopping 85% prefer free shipping to fast shipping.

Courtesy of Finances Online – Reviews for Business 2023

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