Sep 02, 2022
Walmart expects shoppers to start their holiday gift shopping early this year and has already rolled out its toy catalog to help them.
On August 30, Walmart unveiled its “2022 Best Toys List” and said in a Press release that it was intended to help customers plan ahead and save on holiday gift shopping, according to PYMNES. The article says the move is a way for Walmart to get money from customers faster in an economic environment where spending could be down.
The plan is in line with recent research that indicates shoppers will be more likely to spread their dollars earlier in the holiday season as lingering inflation concerns alter their spending habits.
A Salesforce survey reported by Convenient e-commerce found that 37% of consumers plan to start shopping for the holidays early this year. According to this article, customers can postpone their Christmas spending from major seasonal holidays (like Black Friday and Cyber Monday) to October or earlier to avoid spending a lot of money at once.
On the other hand, Best Buy CEO Corie Barry predicts customers will shop later this holiday season than they have in previous pandemic years.
After reporting on the results, Ms Barry told reporters on a call that while for the past two years customers have shopped early due to concerns about stockouts, this year would look like more to the pre-pandemic holiday seasons with purchases in November and December, Bloomberg reported. Best Buy plans to maintain its promotional discounts during these months as the chain anticipates a more value-conscious customer this Christmas due to inflation.
Last year Surveys from RetailMeNot and AlixPartners both found that US consumers plan to shop earlier in the season for Christmas gifts. The July 2021 RetailMeNot survey found that 19% of shoppers said they plan to start holiday shopping in August or earlier, 30% said they will shop earlier than 2020 and 66 % said they want to do their holiday shopping as soon as possible. .
DISCUSSION QUESTIONS: Do you think more consumers will buy holiday gifts earlier or later this year than in recent years? Will promotional activity play a bigger role in driving traffic and sales this year than we’ve seen since the pandemic began?
“The real question is, how bad will the shopping season be? If we adjust to inflation, will it exceed previous years?