How Early Shopping Trends Are Shaping New Holiday Norms

The holiday shopping season is upon us, bringing new consumer spending habits that will push savvy retailers to change and adapt. So, what can shoppers expect to see over the holiday weekend? The buzzwords to watch this season are early deals, experiences, and economic resilience.

Everyone loves a bargain, but let’s face it: Black Friday and Cyber Monday are no longer what they used to be. As the trend of kicking off holiday shopping earlier in the year continues, retailers are no longer reliant on classic Black Friday and Cyber Monday deals. In a recent survey, one-third of respondents said they started their end-of-year shopping well before they donned their Halloween costumes. The allure of doorbusters isn’t extinct, but the nature of deal days is certainly shifting.

While shoppers are still expected to take advantage of sales and spend money in the coming days and weeks, they will also look for creative ways to save it—be it buying less overall or shopping for fewer people. Shoppers also value experiences, which means an uptick of in-person trips to physical stores within a mall or an open-air center—or picking up curbside or in-store. That said, not as many shoppers are sprinting to shops because the deals have already started, which means you’ll see less of those over-the-top shoppers camped out for doorbusters as retailers move to stay closed on Thanksgiving Day. So, the question remains: are Black Friday and Cyber Monday dead? Or has their relevance merely waned in the modern era?

MORE FROM FORBESHoliday Shoppers May Be Leaving Black Friday And Cyber Monday BehindBy Jeffrey Marcus

How Inflation Will Affect Holiday Spending

Despite a challenging economic landscape, consumers continue to spend at a decent pace, and roughly one-third of shoppers said inflation will not change how they shop for the holidays. It’s natural to expect that a tighter economic squeeze might dampen holiday spirits. Yet, the retail sector’s resilience is evident as sales have risen by 2.5% year-over-year, despite a slight dip in October according to the latest estimates from the U.S. Census Bureau.

But what are consumers buying? Here’s where it gets interesting. There’s a notable pivot towards valuing experiences over physical gifts. JLL’s
JLL
latest consumer survey from November reveals a rise in the budget for holiday experiences, with those in higher income brackets significantly upping their spending on activities that create lasting memories. Consumers say they plan to spend $958 per person this holiday season, reserving 22.8 percent for holiday entertainment and experiences. Shoppers who earn $100,000-150,000 are expected to spend 9.4 percent more on experiences compared to 2022 and those earning over $150,000 plan to spend even more at 28.7 percent year-over-year.

As consumers gravitate away from physical gifts and towards experiences and entertainment, experiential spaces (e.g., movie theaters, entertainment venues, hobby stores) saw double-digit foot traffic growth in October. More than 90% of respondents surveyed plan to participate in at least one holiday-related experience.

Retail Trends: Out With The Old, In With The New

So, what can shoppers expect over the holiday weekend and beyond? A season that’s less about the rush and more about the journey. A time when deals are important but not at the expense of meaning. And a retail landscape that is adapting, showing resilience, and offering more than just transactions — it’s about building traditions and experiences.

Another change coming this holiday season: taking the day off. Retail giants like Walmart
WMT
and Target
TGT
are leading the cultural shift to close their doors on Thanksgiving, placing employees’ well-being and family time above profits. This stance isn’t just a post-pandemic fleeting gesture; it’s a trend with staying power, indicative of a broader shift towards corporate responsibility and consumer values alignment. On a personal note, I strongly stand behind this move and believe that all employees should be with their families on Thanksgiving. This is a welcome trend that is here to stay.

As we gear up for the holidays, let’s embrace these changes. It’s time to innovate and integrate. Consider how your spaces can create experiences. Pop-up events, in-store entertainment, and experiential retail could be the key to unlocking a prosperous season. For consumers, it’s an invitation to enjoy a holiday season filled with both savings and significance. This year, let the holidays be not just about what you buy, but also about what you experience and whom you spend time with. The landscape of holiday shopping is changing, and it’s ripe with opportunities for those ready to adapt and thrive.