‘Tis the season to be jolly—and for a lot of holiday shopping. Everyone has their own style when it comes to efficient shopping, but recently, there’s been a rise in certain trends of what people are buying and how they’re buying. This year, shoppers look to save money by extending the shopping season over many months so they can grab the best deals. Some are even making their holidays merry and bright by splurging on themselves.
Seven overarching trends shape the 2024 shopping landscape, and we spoke with a few experts for insight into shopping and financial spending trends.
Meet Our Expert
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Joe Heck is the U.S. CEO of Zip, a digital financial services company
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Sarah Davis is the head of user research at financial service Cleo
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Trae Bodge is a smart shopping expert from blog TrueTrae
Related: The 5 Best Shopping Carts of 2024, According to Testing
Jacob Fox
2024 Holiday Shopping Trends
1. Soft Shopping
Everyone wants to get their loved ones gifts they’ll adore, but no one wants to overspend. Recently, shoppers have been picking up on nifty ways to save while still snagging the gift on the top of wishlists.
“From our new Holiday Spending Report, finding ways to save is the name of the game for young Americans this year,” explains Cleo’s head of user research Sarah Davis. “It’s no surprise that more people are choosing buy now pay later as an option while shopping, and planning holiday gifts earlier out to better maximize sales.”
This spread-out buying period has been coined “soft shopping” since people are purchasing over a longer period and comparing prices for the best deals—all while feeling less stressed since there’s no rush.
2. Smart Saving
With all the economic uncertainty over the past few years, it’s no surprise that saving money is one of the the season’s biggest trends. For many people, this means participating in big deal days.
“Even with the convenience of being able to shop anytime and anywhere, 72% of consumers plan to participate in Black Friday and Cyber Monday,” says Heck.
Trae Bodge, smart shopping expert from the blog TrueTrae, has a few tips savvy savers can use to maximize their money. “Shoppers will be taking advantage of retailer sales while looking for additional ways to save.” Earning cash back through debit cards like Venmo is a popular hack, according to Bodge. Certain apps like PayPal even offer exclusive coupons for the season. Finding these saving tricks and stacking is key.
3. Late-Night Spends
Many wind down at the end of the day with a quick social media scroll. But people are not just scrolling—they’re spending, too.
“The most surprising trend we found was ‘night owl shopping,’ with 40% of shoppers making bigger purchases at midnight. 48% of those ages 25-34 are participating in this, and retailers are taking notice of these late-night scrolling and impulse purchasing habits. This may explain why retailers launch their deals and flash sales towards the end of the day, turning late-night hours into prime shopping times,” says Heck.
Related: Your No-Regrets Guide to Buying Furniture Online
4. Quiet Gifting
Quiet gifts are the presents you’ve purchased for yourself during the hustle and bustle of the holiday season. While these gifts might not make it under the tree, the happiness they bring in terms of holiday self-care still puts a smile on faces.
“People are more willing to admit that they might treat themselves while shopping for loved ones. 84% of consumers admitted that they consider rewarding themselves after shopping for others,” says Heck.
However, the mindset of treating yourself may be detrimental for those trying to be cautious with their wallet during the season of gifting.
“Self-gifting is a problem for many consumers. This is more of a problem around the holidays because we are shopping more than usual, so we are tempted more than usual. If self-gifting is a budget-buster for you, I suggest adding yourself to your gift list and setting a spending cap. That way, if you know you can only spend $25 or $100 on yourself, you’re bound to make more mindful choices rather than falling into the ‘one for them, one for me’ trap,” says Bodge.
5. Putting Your Money Where Your Values Are
Shoppers are also choosing to purchase from companies that reflect their values, such as sustainability. Those whose values align heavily with the environment may even opt for second-hand gifting and head to thrift stores this year. All it takes is a quick website search for customers to decide if a company’s morals align with theirs—and for younger generations especially—this can be the deciding factor on where to spend their money.
“I think shoppers will be excited to see what retailers are offering in terms of sustainable brands and shipping practices, supporting BIPOC and LGBTQ+-owned brands, and personalization,” says Bodge.
6. No Longer Influenced
While tons of trends emerge from TikTok, like fun cocktail recipes or instant ramen hacks, influencers aren’t impacting people’s purchases as much as they expected.
“It’s honestly surprising to see that half of young Americans don’t find social content helpful for gift ideas, especially in this current era of TikTok, according to our new data. While Gen Z prefers dupe videos, and Millennials prefer PR unboxings, the one thing they can agree on is that influencer shopping hauls are not helpful, and TikTok trends are influencing them to buy less—with over two-thirds favoring trends like the Buy Nothing Challenge this year,” says Davis.
7. Cutting Down on Clutter
Many people are diving into experiences instead of tangible gifts this year as well. According to Bodge, younger generations opt for immersive memories instead of collecting nicknacks or items that will promote clutter.
The experience trend also trickles into other aspects of life; Bacardi noted immersive experiences as a top trend when enjoying cocktails next year. Consumers are tapping into their senses and searching for moments to enjoy and memories that will last. Consider concerts, festivals, or pop-up exhibits when brainstorming gifts for Gen Zers or younger Millennials.
Related: How to Declutter Your Home So You’ll Love Your Space Again
Read the original article on Better Homes & Gardens