Image from: Holiday Shopping / Shutterstock
As we reach the end of October, more consumers are focusing their sights on December. As of October 21, about half the consumers surveyed in the Compete Holiday Intelligence™ survey had already begun shopping for the holidays, up 5 percent in 2 weeks. In fact, almost 1 out of 10 consumers had already finished half of their holiday shopping.
While more consumers got into the holiday spirit last week, they did not favor any one particular category. Shopping was up across almost all product categories. One of the most noticeable changes that occurred over the past few weeks was the decrease in gift card shopping and the increase in photo gift shopping. Perhaps consumers shop for generic stocking stuffers early and are now focusing on more personalized gifts.
Mass merchants continue to be the preferred destination for early holiday shoppers. Both in store and online shopping at these retailers increased last week compared to the first week of October. It is interesting to note that while Walmart in store purchases increased more than Target in store purchases, the opposite is true online. Target.com purchasing increased 150 percent whereas Walmart.com shopping only increased 58 percent.
The Compete Holiday Intelligence™ survey is your source for holiday insights. Be sure to check back in the coming months as we continue to track consumer shopping.