Shoppers have begun their festive purchasing process, with 25% completing early preparations for the holiday season.
In the lead-up to the holiday shopping season, retailers such as Target and Best Buy are offering incentives to attract shoppers during "down days," according to a recent survey by e-commerce platform Profitero.
The survey, which polled 1,000 U.S. consumers, found that 45% of consumers plan to start holiday shopping before November, with 25% starting in September. However, only 19% of respondents were concerned enough about U.S.-China relations to start doing their holiday shopping early, while 25% said they aren't concerned and don't plan to alter their holiday shopping plans.
Sixty percent of Profitero survey respondents expressed "very or mild concern" that U.S.-China relations could impact holiday shopping prices. Thirty-one percent of respondents are uncertain about their holiday shopping timing or do not plan to shop for gifts.
To counteract these uncertainties, retailers are offering various incentives. Best Buy, for example, announced it would offer free next-day shipping on orders of $35 or more, but with some exclusions and delivery limitations during Thanksgiving week and Sundays. Target plans to double the number of employees dedicated to fulfillment and make "hundreds of thousands of items" available for free shipping, spending almost $50 million more than last year on payroll.
The holiday shopping season is spreading out on either side of the traditional Black Friday festivities, creating pressure for retailers to correctly allocate inventory for a longer time period. The survey revealed that 41% of respondents plan to spend the most online in November, with 16% planning to do their online shopping in December.
The same survey also found that 28% of people plan to shop online for gifts during Black Friday and Cyber Monday/Cyber Week, which Profitero refers to as the Cyber Five. The lingering trade tensions and uncertainties may have contributed to the early start of holiday shopping for some consumers, as they seek to secure their purchases before any potential tariff increases.
It remains to be seen how the ongoing trade negotiations between the U.S. and China will impact the holiday shopping season. However, retailers are taking measures to ensure a smooth shopping experience for consumers, with incentives such as free shipping, next-day delivery, and increased staffing to attract shoppers during the busy season.
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