According to a recent research report issued by RetailMeNot.com, customers are shopping much earlier than all of us retailers expect them to for the holiday season. In fact, four in 10 U.S. consumers are starting there holiday shopping before November, says the survey’s results.
RetailMeNot.com, an online coupon site, released the report which was created based on research done by the company, as well as by partners like conjuction with Ipso Public Affairs. It paints a picture of a still-challenging economy that is forcing consumers to think about purchases earlier on, in order to better plan their holiday spending budget.
“Welcome to the shopping season of OctoNovemCember™, where nearly 40% of consumers begin their holiday shopping before November,” said Jill Balis, Senior Vice President, Marketing, WhaleShark Media, Inc., operator of RetailMeNot.com. “The reality is that holiday shopping is officially in full swing, and the chances that deal-seeking shoppers will be contained to one weekend in late November is likely a thing of the past.”
According to the research, which was conducted over the last year, consumers are shopping and seeking deals earlier this holiday shopping season. That means retailers have an opportunity to capture the attention and business of these deal-seeking shoppers as early as October via online, in-store and mobile offers.
Highlights of the report’s findings include:
• Nearly 4 in 10 parents with children under the age of 18 (39%) are beginning their holiday shopping prior to November
• More than 7 in 10 parents in the same group (71%) still have a dismal view of the economy, and 1 in 4 worry about being able to make all the necessary purchases in the coming months
• In 2011, consumers using RetailMeNot.com reported saving more on Thanksgiving than they did on Black Friday
• In a recent study of 1,600 RetailMeNot newsletter subscribers, more than 90% said that they are more likely to make a purchase when a coupon or deal is available