Consumer Behavior

Earlier holiday shopping will result in more spend, claims research

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October 20, 2020

Consumers are shopping for holiday gifts earlier than ever and a Savings.com survey predicts the activity will lead to the biggest and longest holiday sales season on record.

Shopping for the holidays began a month earlier than in previous years, reflecting the very non-traditional retail sales in play given the ongoing COVID-19 pandemic, according to a press release on the research findings.

"Traditionally, e-commerce experiences its seasonal low in mid-September between back-to-school spending and the beginning of holiday and fall spending. This year, which isn't traditional in any fashion, the seasonal low happened in mid-August as if the holiday spending season will be a full month longer," Sara Korab, retail trends director at Savings.com, said in the release. "In addition, with Prime Day and competing sales dominating this week, we expect e-commerce to receive an increasing share of wallet for the rest of the year."

The research firm's Savings.com Retail Index also found that average order value for a typical basket of goods purchased online reached an all-time high in September, and big discounts are what consumers want this shopping season.

"While everyone likes a good deal, this year eight in 10 shoppers said sales and coupons are extremely important or very important this holiday season as everyone is trying to stretch their dollar," Korab said in the release.