Walmart says it is beginning its holiday shopping offerings earlier than ever.
“This year, nearly 50% of consumers will start their holiday shopping as early as August and September, as people remain price-conscious and plan ahead to maximize their holiday budgets,” the retail giant said in a Thursday (Sept. 19) news release.
“To meet customers where and how they’re shopping, Walmart will offer customers a holiday head start with savings starting in October, including its first Holiday Deals event of the season and the return of its inflation-free holiday meal — weeks earlier than previous years,” per the release.
That event begins Oct. 8, the same day Walmart rival Amazon kicks off its two-day, holiday-focused Prime Big Deal Days.
Likewise, Walmart’s event will get underway with a focus on its subscription holders, giving Walmart+ members a 12-hour head start on deals on the company’s app and website, starting at 12 a.m. Oct. 8.
All customers can find deals on the website and app beginning at noon that day, with in-store sales slated to begin the following day.
As reported here earlier this month, the 2024 holiday shopping season is expected to be slower compared to the prior year, though strong eCommerce sales are expected. A projection from consulting firm Deloitte finds that eCommerce sales will climb between 7% and 9% this season, to the tune of $289 billion and $294 billion.
“Our forecast indicates that eCommerce sales will remain strong as consumers continue to take advantage of online deals to maximize their spending,” said Michael Jeschke, principal at Deloitte Consulting, and the firm’s retail and consumer products lead.
And consumers are likely to seek out deals this fall, PYMNTS wrote recently, especially the 60% who live paycheck to paycheck. Research by PYMNTS Intelligence finds that the vast majority of these consumers have not seen their income increase to offset inflation.
“As such, these shoppers are making more conservative budgeting decisions,” PYMNTS wrote recently. “Ninety-two percent of paycheck-to-paycheck consumers in the former category and 97% of those in the latter said they have taken actions to cope with price increases when buying retail products. Plus, 94% and 96%, respectively, have done so for grocery products.”
The research also found that 42% of consumers have taken on the “budget shopper” persona when buying retail products as a way to cope with inflation.
These shoppers “trade down by turning to cheaper merchants and plan their purchases around sales and discounts,” the report said.