Retail

Half Of US Shoppers Want To Finish Holiday Shopping Before Thanksgiving

Maybe Black Friday and Cyber Monday deals don’t mean as much to consumers as retailers think they do?

About one-third of U.S. shoppers said they plan on completing their holiday shopping before November, with Amazon coming in as the top destination for online shoppers, according to a recent survey.

And nearly half of all U.S. shoppers said they planned to be done with the majority of their holiday shopping before Black Friday even rolls around, according to a survey by Market Track that polled 1,000 U.S. consumers.

“Beating other retailers to the punch by taking demand out of the market early is nothing new,” Traci Gregorski, senior vice president of marketing at Market Track, said in a statement. “Look for early digital sales to kick off the season in earnest with compelling deals in October to entice consumers to shop early. In addition, there will be heightened competition for online shoppers with significant online discounting extending to the Saturday before Christmas. Last year, we saw discounts on many hot holiday items at 40 percent below the Black Friday sale price toward the end of the season.”

Of those surveyed, 27 percent said they planned to do the bulk of their holiday shopping before November rolls around, an increase of 8 percent since last year’s survey, and 49 percent said they planned to finish the majority of their holiday shopping before Thanksgiving.

Amazon was also the top online shopping destination, and consumers said they planned to allocate the majority of their online budget for the eTailer this holiday shopping season.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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