Winning the holiday dollar: Key consumer trends for retailers in 2024

The holiday shopping season is already underway, with our research showing that 56% of consumers plan to begin checking off their shopping lists before December. In this critical retail period, understanding consumer behavior is more vital than ever, especially as shoppers navigate increasing prices and availability concerns. Our research report, “Winning the Holiday Dollar,” reveals compelling insights into how consumers are approaching their holiday shopping in 2024.

Our key findings show that 69% of shoppers are entering the season with specific purchases in mind and 74% have a budget they want to stick to. The good news is there are significant opportunities for you to get on these customers’ nice list. How? 

• 77% of shoppers sticking to a wishlist say that a deal would cause them to make a purchase
• Flash sales would cause 54% of shoppers to exceed their budget and 43% would push the envelope for a limited time deal
• Two-thirds of holiday shoppers discover small businesses through social media, while 67% find them through local markets – with early bird shoppers being 51% more likely to support small businesses this season

We’ve also uncovered actionable insights into what motivates holiday spending and how strategic inventory management can be the deciding factor in winning sales and standing out in a competitive market.