Q4 winter holidays are the #1 consumer spending event of the year //
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 2024.
How does it break down? Here are the top categories of gifts consumers want to receive in 2024: 1. Gift Cards 2. Clothing and Accessories 3. Books or Other Media 4. Personal Care or Beauty Items 5. Electronics 6. Home Decor 8. Jewelry 9. Sporting Goods 10. Home Improvement
Timing
45% of consumers plan to start their holiday shopping before November to spread out their budgets and avoid the stress of last minute shopping.
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:
Thanksgiving
Christmas
Hanukkah
Kwanzaa
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