Christmas Shopping: Trends for the 2024 Season

It's officially holiday shopping season. To better understand how consumers are planning their purchases, spending, and strategizing for the holidays, recent studies and surveys have shed light on the most relevant trends for the season.

1. Inflation and Purchasing Budgets

Inflation remains a significant factor in consumer budgets, although it has shown signs of slowing compared to previous peaks. Even so, 49% of consumers say they plan to spend similarly to last season, while a remarkable 21% began buying gifts as early as August to spread their spending and avoid price increases. This strategic approach allows consumers to take advantage of early sales and spread their payments over more months, reducing financial stress. [WebFX] [Bazaarvoice]

2. Purchasing Strategies and Early Planning

A strong trend for 2024 is the early start of holiday shopping. More than 50% of shoppers have indicated they will begin their shopping before October, an increase compared to previous years [WebFX]. The main reasons for this behavior include:

• Spreading the budget over several months : 60% of consumers do this to avoid large outlays in a single period.
• Ensuring on-time delivery : 33% still express concern about receiving products before the holidays.
• Avoid out-of-stock products : With global logistics still facing challenges, consumers have become more proactive.

3. Stressful Factors of the Shopping Season

Inflation and high prices remain a source of concern. 60% of shoppers cite high prices as a stressor. However, the pressure to find available products and ensure gifts arrive on time has also become more significant. Other stressors include:

• Pressure to adjust the budget : 47% .
• Products out of stock : 40% .
• Delivery logistics and delays : 33% .

4. The Self-Gift Phenomenon

One of the most striking trends is the rise of self-gifting. This year, 54% of consumers indicated they plan to buy something for themselves, compared to 52% last year . The reasons behind this behavior include taking advantage of exclusive offers, improving personal well-being, and experiencing a moment of gratification during the holidays. Additionally, 45% of shoppers are doing it as a form of self-care, seeking to relieve stress and feel appreciated.

5. Most Searched Products and Categories

Analysis of the most popular product categories for the 2024 season reveals a marked preference for products with lasting value and high technology:

• Electronics and technology : continue to lead the list, driven by new versions of gadgets and significant discounts.
• Clothing and accessories : they maintain their popularity, although consumers are looking for higher quality and better deals.
• Digital memberships and subscriptions have gained traction as long-lasting gifts, offering consumers access to streaming platforms, educational content, and more.
• Gift cards : remain a flexible and popular option, mentioned by 55% of respondents as a key gift choice.

6. Impact of Influencers and Video Content

The influence of content creators and influencers remains powerful. 69% of consumers admit that influencer recommendations influence their purchasing decisions, and 44% plan to buy products based on these recommendations during the holiday season. This phenomenon highlights the importance of marketing campaigns based on authentic content and strategic collaborations. Video content has also solidified its position as a favorite search and purchase format, with 37% of shoppers preferring short videos of 1-5 minutes to explore purchasing options [WebFX] [Bazaarvoice].

7. Adoption of Flexible Payments (BNPL)

The use of "buy now, pay later" (BNPL) services has shown a 32% growth in 2024, providing consumers with the flexibility to make purchases without immediately impacting their budgets. This option has become crucial for consumers looking to distribute their spending more effectively during the holiday season. [WebFX]

8. Loyalty and Loyalty Programs

Loyalty programs are gaining importance, with 63% of consumers preferring to shop at stores where they can earn and redeem loyalty points. These initiatives not only increase customer retention but also encourage greater spending during the holidays, providing tangible benefits such as early access to sales and free shipping. [Salesforce] [Bazaarvoice]

9. From Black Friday to Cyber ​​Friday

Black Friday is becoming more of a digital than a physical event. 72% of consumers plan to shop online, reflecting an evolution toward "Cyber ​​Friday." The preference for convenience and the ability to find better prices online are driving this shift, positioning e-commerce as the hub for shopping on this day. [Salesforce] [WebFX]

10. Post-Holiday Trends

Shopping doesn't end on December 25th. 49% of consumers plan to participate in year-end clearance sales to take advantage of additional discounts and shop with fewer crowds. Post-Christmas shopping is also driven by the intention to exchange gifts or use store credit. [WebFX] [Bazaarvoice]

How will consumers prepare?

To understand how consumers plan to approach their holiday shopping this year, RetailMeNot conducted two surveys of more than 1,200 U.S. adults in July and September.

Among the main findings:

1. Shoppers will leave early again

The survey found that 76% of shoppers plan to start their holiday shopping before Thanksgiving (traditionally the gateway to the holiday shopping season) this year.

The following are the dates on which the buyers plan to begin:

November (before Thanksgiving), 16%
November (after Thanksgiving), 13%
December, 5%
Last minute (week before the holidays), 3%
I don't do any holiday shopping, 5%

This early start to holiday shopping isn't necessarily new. In recent years, we've also found that most shoppers begin their shopping well before Thanksgiving weekend.

2. Finances remain a major source of stress when buying

With inflation continuing to impact consumer spending habits, it's no surprise that rising prices are once again the top cause of holiday shopping stress for 50% of Americans (up from 52% last year). This is followed by a lack of inspiration and not knowing what to buy (41%). Top holiday shopping stressors for 2024 include:

Price increase, 50%
Not knowing what to buy, 41%
That everything fits within my budget, 39%
Large crowds in stores, 38%
Find the best deals, 31%
Products out of stock, 30%
Delivery delays/having everything on time for the holidays, 30%
Uncertainty about my economic situation, 26%
Finding time to shop, 25%
A short holiday period, 15%

Furthermore, as the holiday season approaches along with this year's presidential election, consumer behavior and spending patterns may be affected.

3. Despite inflation continuing to affect budgets, consumers are still planning to make purchases during the holiday season.

Although rising prices remain a major concern for shoppers, the survey found that consumers still plan to shop at this year's holiday sales events and plan to spend an average of $1,069 this year (+14% vs 2023): $717 of this budget is planned to be spent on others and $353 on themselves.

The survey revealed that shoppers plan to buy:

Electronics, 66%
Clothing, including shoes and accessories, 65%
Food and beverages, 32%
Experiences and services (e.g., music lessons, massages, concert tickets), 32%
Home goods and decor, 29%
Household appliances, 26%
Greeting cards and wrapping materials (e.g., cards, ribbons, etc.), 23%
Toys and games, 21%
Makeup and skincare, 19%
Home improvements, 18%
Travel, 6%

4. Consumers are looking for inspiration and ideas for holiday gifts.

As they quickly scan their shopping lists, they rely on social media and family and friends to ease the stress of gift-giving and spark their imagination as they embark on their holiday shopping journey.

Buyers stated that their top five sources of inspiration include:

Social media ads, 45%
Recommendations from friends and family, 41%
Retailer websites and apps, 37%
Search engine ads, 37%
In-store promotions, 37%