About a quarter of Americans (27%) do the bulk of their holiday shopping in December, according to the 2024 Intuit QuickBooks Holiday Shopping Survey.
But why put it off until the last month, especially with big sales like Black Friday in November? According to recent research and consumer behavior experts, there are a few possible reasons.
Why Americans Are Delaying Holiday Shopping
This year’s Intuit Quickbooks holiday survey found that 91% of consumers are concerned about higher costs affecting their holiday shopping. So, consumers may be waiting for December to receive additional paychecks that will help them cover the costs of gifts.
Factors such as elevated inflation and interest rates along with wage stagnation over the past few years have left many spread thin. Another possibility is that some people just don’t like shopping, so they put it off as long as possible.
A PissedConsumer Holiday Shopping 2024 survey found that three of the top reasons people avoid holiday shopping are overcrowding (30.1%), retailers manipulating shoppers (29.5%) and inflation (28.4%).
“According to our survey, many Americans might delay their holiday shopping due to financial concerns and the growing trend of changing consumer behavior patterns,” Michael Podolsky, CEO and co-founder of PissedConsumer, said in an email.
And some shoppers might be holding out because they expect sales to come closer to Christmas day.
“Shopping is fun only to a certain demographic — most of us find it to be a pain, so any procrastination is probably to be expected,” Vijay Marolia, managing partner and chief investment officer of Regal Point Capital Management, said in an email.
Don’t Delay Shopping Because You’re Waiting for the Best Deals
If you’re holding off on holiday shopping because you want to get the best deal, there are a few ways to increase your odds.
Consider using a price tracking tool like Camelcamelcamel, Honey or the Capital One Shopping browser extension. These can quickly help you view the pricing history of an item and see if it’s cheaper somewhere else.
[Related:Best Coupon Sites, Browser Extensions and Apps]
You can also shop from stores offering price-match guarantees. For example, Target offers price matching through Dec. 24, 2024 on items purchased on or after Nov. 7, 2024. Best Buy also offers holiday price matching through Jan. 14, 2025 on items purchased between Nov. 1 and Dec. 31.
Remember, don’t wait too long on hot items like new toys or electronics as they may sell out.
[Related:Buy These 6 Things Early This Holiday Season]
How Not to Be a Last-Minute Holiday Shopper
If you’re a last-minute holiday shopper but would like to change that in the upcoming year, these steps may help.
“To better allocate purchases throughout the year, you could designate a place in your home that is well organized and encourages you to put presents aside,” Reilly Newman, brand strategist and founder of Motif Brands, said in an email.
“Having an organized list in Notion or a spreadsheet can help you remember the gifts you purchased, the price you paid and where you stashed it for that special person. Tracking your behavior can help you shop effectively as well as budget for each individual so you don’t overspend when those seasonal sales come around,” Newman said.
[Related:Tips to Avoid Overspending on Gifts This Holiday Season]
If you don’t want to purchase gifts throughout the year, you can save money each month to spread the costs out over time or look for alternative ways to cut costs.
“If it’s difficult to save, consumers can focus on prioritizing essential purchases and looking for alternatives to reduce costs, like buying at thrift stores or making DIY gifts,” Podolsky said.
“Additionally, taking advantage of sales throughout the year and using loyalty programs or discount coupons can significantly reduce spending without the need for monthly savings,” he added.
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Why So Many Americans Delay Holiday Shopping — And Why You Shouldn’t originally appeared on usnews.com
Update 12/16/24: This story was published at an earlier date and has been updated with new information.
