Executive Briefings

Many Consumers Begin Holiday Shopping Earlier Than Ever

Anyone looking for more proof that holiday shopping begins earlier has some new statistics to cite: 56.6 percent of those celebrating the holidays had begun shopping by early November, up from 54.4 percent last year and up further from the 49 percent who had started by this time in 2008, the first time the National Retail Federation asked the question.

It's the highest percentage seen in that time frame, according to the NRF's Consumer Holiday Spending Survey conducted by Prosper Insights and Analytics. Some 21 percent of shoppers began before October, according to a recent Brand Keys survey.

"Thanksgiving weekend shopping has evolved tremendously over the past few years and can no longer be seen as the 'start' of the holiday season, though there's no question it's still important to millions of holiday shoppers and retailers of all shapes and sizes," said NRF president and CEO Matthew Shay. "There is a real sea change happening in retail when it comes to the how, when, where and why of holiday shopping. Consumers today are looking for great prices and value-add promotions earlier than ever before, and retailers have answered these demands in several different ways already this holiday season."

Younger shoppers are among the busiest early in the season. Nearly 65 percent of 25 to 34-year-olds and 62 percent of 35 to 44-year-olds say they have already started shopping.

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It's the highest percentage seen in that time frame, according to the NRF's Consumer Holiday Spending Survey conducted by Prosper Insights and Analytics. Some 21 percent of shoppers began before October, according to a recent Brand Keys survey.

"Thanksgiving weekend shopping has evolved tremendously over the past few years and can no longer be seen as the 'start' of the holiday season, though there's no question it's still important to millions of holiday shoppers and retailers of all shapes and sizes," said NRF president and CEO Matthew Shay. "There is a real sea change happening in retail when it comes to the how, when, where and why of holiday shopping. Consumers today are looking for great prices and value-add promotions earlier than ever before, and retailers have answered these demands in several different ways already this holiday season."

Younger shoppers are among the busiest early in the season. Nearly 65 percent of 25 to 34-year-olds and 62 percent of 35 to 44-year-olds say they have already started shopping.

Read Full Article