Half of holiday shoppers will begin buying gifts by Halloween

On Your Side's Susan Campbell has your first look at the upcoming holiday shopping
Published: Sep. 13, 2023 at 2:48 PM MST
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PHOENIX (3TV/CBS 5) -- Halloween treats are on display, but the Merchantile in Phoenix is already preparing for the bustling holiday rush. “We are mentally preparing ourselves for everything that comes with the holiday season,” said Ammy Solano. The shop’s customers are, too. “We do have some traffic come through getting ready for early holiday, saying, ‘Oh, this is going to be for Christmas!’” Solano added.

The jumpstart on holiday shopping is happening across the country. According to a new Bankrate survey, half of all holiday shoppers plan to start their holiday shopping by Halloween. Twelve percent started by the end of August. Another 12% will kick off their holiday shopping this month, and 26% say they’ll begin tackling their gift lists in October. “I know it’s early. I actually think it’s a good idea for a few reasons. The biggest one is it just gives you more time. You can spread out your cash flow. You can set a budget, comparison shop, find the best deals,” said Bankrate’s Ted Rossman. “I’m not saying you need to buy everything now, but at least get the process started.”

Though shoppers are getting started early, analysts expect inflation and credit card debt to put a damper on holiday shopping. “We have about four in ten shoppers saying they’re just going to buy less stuff, and then another four in ten say they’re still going to buy, but they’re going to be really aggressive about coupons and deals and discounts,” Rossman said.

Shoppers can expect the deals and discounts to start early, too. “I think it’s a realization that customers only have so much that they want to spend, and retailers want to capture those dollars early, so they’re putting their best foot forward in October,” Rossman said. “They’re also hoping for some impulse buying.”

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