Q4 winter holidays are the #1 consumer spending event of the year //
Thanksgiving and the following weekend have typically been considered the official start of the holiday shopping season for the vast majority. However, in 2022 retailers announced they would start offering holiday promotions in October to accommodate early shoppers.
Overall, holiday sales represent about 20 percent of annual retail sales each year, but the figure can be higher for some retailers.
Consumer Insights
The National Retail Foundation (NRF) lists the winter holidays as #1 on their list of top consumer spending events. Here’s what they learned about consumer buying plans in 2022.
How does it break down? Here are the top categories of gifts consumers plan to give in 2022: 1. Clothing or Accessories 2. Gift Cards 3. Toys 4. Books or Other Media 5. Food or Candy 6. Personal Care or Beauty Items 7. Electronics 8. Home Decor or Furnishings 9. Jewlery 10. Sporting Goods or Leisure Items
Timing
According to historical NRF data, 39% of consumers start their holiday shopping in October or sooner with the majority starting in November when sales peak around Thanksgiving.
According to the NRF, Super Saturday, the last Saturday before Christmas, has become the biggest shopping day of the year as consumers rush to take care of last minute gifts and take advantage of great deals.
From their 2020 survey, the NRF learned that 66 percent of holiday consumers will still be shopping the week after Christmas. “The top reasons consumers plan to shop during the last week of December are to take advantage of post-holiday sales and promotions (45 percent) and use gift cards (27 percent).”
Marketing Resources
Spark ideas your promotional content and marketing materials with resources for the following holidays:
Hanukkah
Kwanzaa
