Nearly One-Third of Consumers Have Already Started Their Holiday Shopping
Almost one-third of all consumers started their holiday shopping before Labor Day, according to a new survey from Rubicon Project. The study also revealed nearly half of all parents have begun their holiday shopping, which could make this a big year for the retail industry.
On average, Americans are planning to spend about $1,175 on gifts for the holidays, marking a 12% increase over last year’s expenditures. Parents expect to spend an average of $495 per child, but their purchases will shift this year. Rather than buying one big ticket item, parents plan to buy a series of smaller items.
Online shopping will continue to account for a greater percentage of holiday shopping. The survey revealed 73% of shoppers plan to shop online. This year, 22% of shoppers plan to do all of their shopping online or on their mobile devices. 2015 was the first year in which online orders surpassed in-store orders for Thanksgiving Day and Black Friday. An estimated 103 million people shopped online during that weekend.
While this may be the “season of giving,” many survey respondents admitted they plan on spending money on themselves this holiday season as well. 43% of consumers said they plan on buying personal gifts, spending an average of $322.
A separate study released by Market Track indicates 27% of shoppers plan to complete the bulk of their shopping before November, and 49% plan to finish before Thanksgiving.