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NEW YORK — Early shopping and deal seeking are the hallmarks of the current holiday season, according to a recent report from Coresight Research.
Coresight’s latest survey found that 52% of consumers started their holiday shopping in October this year, compared to 44% last year. This shift was driven by expanded early sales events, such as Amazon’s Big Deal Days. Another factor was this year's later-than-usual Thanksgiving, which will delay Black Friday and has prompted retailers to roll out deals earlier.
Holiday spending trends are also shifting as consumers brace for a challenging economic environment. Besides prompting consumers to look for bargains, it will impact how they pay for their purchases. "A lot of consumers are going to lean on credit," said John Mercer, global head of research at Coresight. "And amongst those credit users, a large proportion of those will put a large proportion of their holiday spending on credit."
Overall, 85.1% of consumers expect to use credit/borrowing to make holiday purchases, and just over two in five consumers expect to put more than 50% of holiday spending share on credit.
This reliance underscores economic concerns and the lingering effects of inflation on household budgets.
Consumers also value discounts and deals highly, with most citing them as essential factors in their holiday purchasing decisions. While getting the lowest prices remains a top priority, a slight dip in emphasis on those factors in the poll responses could indicate a growing appreciation for quality and brand value among shoppers.
Gift cards and clothing are among the most popular holiday gifts this year, with spending on clothing and footwear expected to see a boost. "We’re quite bullish on clothing and footwear for the holidays," Mercer remarked, adding that these categories have outperformed inflation-adjusted growth this year. Beauty products, which have seen steady demand over the years, may see more modest growth amid changing consumer priorities.
Experiences are also considered alternative gift options, with 49% of consumers preferring experience-based gifts over physical goods. Meanwhile, 57% expressed interest in exploring new and non-traditional gifting options this holiday season.
Overall, Coresight’s findings suggest that while consumers are mindful of their budgets, they remain committed to holiday spending. They often favor experiences and practical gifts that balance enjoyment with value. Retailers are responding to this cautious optimism by extending holiday sales periods and providing early access to deals, adjusting their strategies to match the evolving expectations of today’s holiday shoppers.
