USA TODAY International Edition
Holiday deals are underway for savvy shoppers
The phrase shoppers most want to hear this holiday season is “let’s make a deal.” And for many, the buying and bargains have already begun.
For some, the buying season begins on the heels of back- to- school, with 20% of shoppers saying they start ticking off their holiday lists in September or earlier, according to deal site RetailMeNot. And retailers were ready, with 61% saying in summertime surveys that their holiday deals would start popping up in September, up from 52% in 2018.
Traditionally, the holiday shopping rush kicked off on Black Friday, the day after Thanksgiving. But recently, sales have launched weeks earlier.
An early start may be helpful since there are six fewer shopping days between Thanksgiving and Christmas.
Amazon, which has transformed the retail landscape, is also having a specific impact on holiday shopping, with 28% of those surveyed by RetailMeNot saying they bought gifts during Amazon’s Prime Day sale in July.
If you prefer to fill your cart with a tap or click, you’ll be in good company. For the first time, shopping online will be the preference for a majority of holiday shoppers, with more than half, or 54%, saying they will do more holiday shopping via a smartphone or other device and 46% saying they will do more of their purchasing at a physical store, says consultancy PwC.
Still, 90% intend to do at least some of their buying in person, says the International Council of Shopping Centers. And more than 60% say that a quest for bargains will get them through a store’s doors more often.
Despite the bargain hunting, spending is likely to be up this year. Shoppers will dole out $ 1,284 on average for presents, trips and entertaining, PwC says, a 2.7% bump over 2018.
The National Retail Federation also expects holiday purchases to rise but has noted that economic uncertainty could dampen shoppers’ enthusiasm.
The industry trade group forecast that sales should increase between 3.8% and 4.2% in November and December as compared with the period last year. That amounts to between roughly $ 728 billion and $ 730.7 billion in spending.
But questions loom about issues from interest rates to international trade.
“There are many moving parts and lots of distractions that make predictions difficult,” said NRF chief economist Jack Kleinhenz. “There is significant economic unease, but current economic data and the recent momentum of the economy show that we can expect a much stronger holiday season than last year.”