Holiday Shopping Season: When Will Holiday Shoppers Start Spending?

To a child who learns about the world primarily from cartoons, it’s easy to mistakenly conclude that encounters with quicksand, falling anvils, and mysterious treasure maps might one day become semi-frequent features of adult life.

And while it’s a relief to those of all ages to learn that this is, in fact, not the case, animators may have been onto something when it came to one recurring theme of adulthood — staying on the hunt for “hidden treasure,” particularly when it comes to securing deals during the busy holiday shopping season.

Unlike pirates, though, marketers tend to want as many people as possible to find their gold. And with shoppers getting into the spirit earlier than ever, it’s imperative that brands not only understand their ever-changing expectations in the marketplace, but start planning now.

With that in mind, what’s the best way to guide your customers to the big “X” on the map? This post delves into best practices for brands as they gear up for the upcoming holiday season, supported by crucial insights from Salsify’s “2024 Holiday Consumer Research” report. 

The Consumer Landscape: Holiday Shopping Season 2024

Salsify’s survey reached 1,026 shoppers — about half from the U.S. and half from the U.K. — to identify some leading consumer attitudes likely to inform buying habits this holiday shopping season.

Let’s take a closer look at the four main findings from the survey.

Holiday Shopper Spending Predicted To Stay Steady

About 65% of holiday shoppers plan to spend about the same as last year, despite some expressed anxiety about broader economic headwinds.

Among generational lines, Generation Z (22%) and millennials (17%) were most likely to report an intention to spend more this year. However, 26% of Gen Zers and 21% of baby boomers said they’d be scaling back.

Holiday Shoppers Will Start Earlier (and Earlier)

Given the ongoing cultural debate over whether celebrants should hang holiday decorations before or after Thanksgiving, it may come as a surprise that, for most shoppers, the season begins as early as October.

That’s right: 27% of respondents said they’ll make their first purchases of the season around the same time as their annual Halloween candy restock. They were closely followed in second place by those who said they’d make their first purchase in November (but before Thanksgiving), at 26%.

Put another way: The majority of shoppers say they’ll start their spending long before flashy shopping events like Black Friday or Cyber Monday — only 19% reported starting their holiday spending during those dates.

Holiday Shoppers Will Treat Themselves

Holiday shopping can be pretty stressful, which might explain why more shoppers are opting to get a little gift for themselves while they’re at it.

Nearly two-thirds of shoppers said they’d likely buy something for themselves while holiday shopping this year, with millennial (73%) and Gen Z (68%) shoppers among the most likely to do so. If it works for your brand, consider ways to target these kinds of customers — a buy one, get one (BOGO) campaign could be particularly effective here.

Major Shopping Events Still Matter to Holiday Shoppers

While most shoppers said they’ll start their holiday shopping long before Cyber Week, that doesn’t mean consumers will ignore those sales holidays entirely. On the contrary, 62% of shoppers plan to hunt for Black Friday deals this year, with 45% reporting plans to buy on Cyber Monday.

Note that these events seem to be most popular with younger generations. For example, 75% of Gen Z shoppers said they plan to shop on Black Friday, while more baby boomers had plans to stay home (44%) than participate (43%).

Preparing for the 2024 Holiday Shopping Season

What does this mean for marketers? Here are three simple ways brands can best leverage these trends to secure a competitive edge this holiday season.

Prepare for Early Shoppers

Don’t get stuck in the “it’s only October” mindset — make sure your promotions and discounts are ready to go for the “early bird” season. Free shipping and other perks can go a long way here — especially with a few months’ breathing room before the big day(s).

Leverage Digital Channels

As the distinction between in-person and digital shopping becomes increasingly blurred, customers increasingly consider touch points from both worlds as part of the same buying journey.

That’s why it’s essential to maintain a seamless, engaging omnichannel experience across all of your touch points — particularly during the holiday shopping season. Consistent experiences will drive not only sales but retainment, too.

Make It Personal

Consumers increasingly expect personalized experiences when shopping online and tend to reward the brands that provide them, per McKinsey & Company.

Consider how you can creatively harness your customers’ data to provide tailored product recommendations, customizable products, and other options that speak to the unique needs of your shoppers (for example, targeting “self-gifters”).

Don’t Keep Your Customers Guessing

Broadly catering to the needs of shoppers across different purchase schedules and generational habits is now essential for any successful holiday shopping season campaign. Those who leverage early shopping trends, omnichannel engagement, and frequent personalization stand to make the most of any end-of-year splurges.