Weekday e-commerce is a fast-growing part of holiday shopping.
Holiday spending is expected to be mixed this year, and a number of factors are projected to impact the final sales numbers.
That’s according to Boston Consulting Group’s (BCG) new 2024 Holiday Outlook Survey, which found that just over a quarter of consumers (28%) plan to spend more than they did last year. Nearly the same amount (27%) plan to spend less, while just under half (45%) of those surveyed plan to spend the same.
BCG says that a multitude of factors will impact holiday spending, including a shortened holiday season as well as the upcoming presidential election, which is expected to fragment consumers’ attention.
Last year, over 50% of holiday shopping was completed before Thanksgiving. The peak holiday period (after Cyber Monday through Christmas Eve), however, was still the busiest with 36% of shopping. This year, a late Thanksgiving leaves only 27 days between Thanksgiving and Christmas, which is five fewer shopping days compared to last year. Hanukkah is also later relative to 2023.
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