We’re just a week into September and it’s technically still summer for a few more weeks, but stores are now starting to stock Halloween candy, and some are already putting up Christmas trees. Back-to-school season is just ending, and retailers are more than happy to shift into holiday shopping. While that may seem way too early, it turns out, some folks have already started theirs.
According to a new Bankrate survey of 2,300 adults:
- About half (48%) are planning to start their holiday shopping by Halloween. But some are starting even earlier, with 12% starting in August, 13% planning to start this month, and 24% starting in October. Over a third (37%) don’t start shopping for the holidays until November and 15% wait until December.
- The economy is affecting people’s holiday shopping plans this year, with a third saying they expect to spend less than they did last year and 24% planning to spend more than last year.
- More than a quarter (28%) feel stressed about the cost of holiday shopping and 28% say it will strain their budget.
- For 34%, inflation will impact the way they shop this year.
- Nearly three in 10 (29%) plan to set money aside specifically for holiday spending.
- Debit cards are the most popular way to pay this holiday season, with 58% planning to pay for gifts and decorations with a debit card.
- But there will be debt under the tree this year, too, as 27% expect to take on some kind of debt when holiday shopping.
- More people will be shopping online, with 42% planning to make their holiday buys online, compared to 23% who plan to shop mostly in person.
Source: Bankrate