Fast October Start, but Consumers 'Have a Great Deal of Shopping Left': NRF
Though consumers started holiday shopping “earlier than ever,” they’re still waiting to do the bulk of their buying, emailed National Retail Federation spokesperson Danielle Inman. She responded to our question on whether the NRF views this year’s start of holiday…
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season promotions in October as a precedent, or if it was a COVID-19-based anomaly. We also asked if retailers risk consumer burnout if the promotional holiday season stretches over three months. “All indications are that consumers like having more time to shop and to spread out their budget and retailers have adapted accordingly,” she said, noting a gradual shift to a longer shopping season over the past several years. A decade ago, she said, 49% of shoppers started holiday browsing and buying by early November; this year that grew to 59%. She noted the lengthening of Thanksgiving weekend sales -- at one time focused just on Black Friday and Cyber Monday -- to encompass Thanksgiving Day and the week leading up to the holiday. As of early November, consumers had completed about a quarter of their holiday shopping, and by the end of Cyber Monday, they had completed 51% on average, “leaving a great deal of shopping left for December.” In a typical year, she said, “we also see the majority of consumers making their last purchase the week leading up to the 25th.”