National Retail Federation (NRF) reports in its Consumer Holiday Spending Survey that 56.6 percent of consumers celebrating the holidays had already started shopping by early November, up from 54.4 percent last year and 49 percent in 2008, the first time NRF asked the question. 

Matthew Shay, NRF president and CEO, said that the holiday shopping schedule has changed for consumers.

“Thanksgiving weekend shopping has evolved tremendously over the past few years and can no longer be seen as the ‘start’ of the holiday season, though there’s no question it’s still important to millions of holiday shoppers and retailers of all shapes and sizes,” Shay said. “There is a real sea change happening in retail when it comes to the how, when, where and why of holiday shopping. Consumers today are looking for great prices and value-add promotions earlier than ever before, and retailers have answered these demands in several different ways already this holiday season.

“That said, many of the season’s best deals are yet to come, meaning there’s still plenty of shopping to be done over Thanksgiving weekend and in December when shipping promotions begin to ramp up," Shay added. "I expect we’ll see shifts all season long as it relates to shopping patterns.”

Just shy of 65 percent of 25-34 year olds and 62.1 percent of 35-44 year olds say they have already started shopping, while 58.4 percent women have already started checking off their holiday lists, compared to 54.6 percent of men.

Pam Goodfellow, principal analyst and consumer insights director at Prosper Insights and Analytics, which conducted the study, commented on the demographic shifts.

“While there are many ‘Type A’ holiday shoppers who love to get an early start on their wish lists, it’s also likely some of the early shopping we’ve seen has been in the form of ‘self-gifting,’ and there’s no question millennials love treating themselves to something when the price is right,” Goodfellow said. “And with Thanksgiving, Black Friday and Cyber Monday still to come, holiday shoppers of all ages are still in for a treat when it comes to unbeatable promotions.”

As for the types of gifts people are planning to buy this holiday season, six in 10 (60.3 percent) will purchase apparel or clothing accessories. Another 46.2 percent said they will purchase books, CDs, DVDs or video games, and 41.2 percent said they will buy toys. One in five will buy jewelry (21.8 percent) and 30.5 percent will buy food or candy. Interestingly, 56.3 percent say they will buy gift cards, down from 60 percent last year, even though gift cards remain the most requested gift item among holiday shoppers.

Shoppers are tough on retailers’ promotions this holiday season with only 40.1 percent ranking them as excellent or good, while another 34.8 percent rank them as average. Millennials are much more positive when it comes to these promotions: 58.9 percent of 18-24 year olds and 54.5 percent of 25-34 year olds agree retailers’ deals have either been excellent or good.

Traditional methods of advertising still resonate with consumers when it comes to sparking ideas for holiday gifts. However, online searches and social media serve as the preferred inspiration channels for shoppers. According to the survey, 46.9 percent will use an online search to find their gifts, and more than 35.4 percent of those surveyed will look for inspiration for holiday gifts through advertising circulars. Additionally, 30 percent will look to catalogs and 31 percent will use TV ads for inspiration. In the world of social media, Facebook is the most likely place shoppers would look for inspiration (13 percent), though Pinterest will also be a key location for holiday shoppers (8.8 percent).

Holiday shoppers will likely use their debit card the most when paying for gifts this year (39 percent), similar to last year’s 38.4 percent, and another 38.2 percent will use their credit card, the same as last year. One in five (20.2 percent) will pay for gifts with cash and 2.5 percent will use a check. NRF also asked about shoppers’ use of PayPal, and 55.1 percent of those surveyed say they will or may use PayPal to pay for holiday gifts.

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