As the holiday shopping season nears, major retailers are launching early sales campaigns, moving away from the traditional Black Friday rush in an effort to capture consumer spending earlier in the season, PYMNTS reports.
This shift comes amid economic uncertainty, with inflation and fluctuating consumer confidence influencing shoppers to adopt more cautious spending habits. According to a report by Bankrate, 33% of holiday shoppers plan to spend less this year compared to 2023.
In August, consumer spending growth slowed to 0.2%, down from a 0.5% rise in July, according to the Bureau of Economic Analysis. Early back-to-school expenses, travel-related spending, and job growth pressures may have contributed to households tightening their budgets. This slowdown is a concern for retailers as they approach the critical holiday period.
In response, retailers like Walmart, Target, Amazon, and Best Buy are launching early promotional events to attract buyers. Walmart will hold its “Holiday Deals” event from October 8-13, with early access for Walmart+ members starting at midnight on October 8. The sale will be available online at noon that same day and in stores on October 9.
Target is offering its “Target Circle Week” from October 6-12, providing discounts of up to 50% across various categories. The event will feature automatic discounts for Target Circle members both online and in-store, along with the return of daily deals.
Amazon’s “Prime Big Deal Days” is scheduled for October 8-9, offering Prime members exclusive savings on seasonal items, home essentials, toys, and more. Other retailers are also participating, including Bedsure, which is offering discounts of up to 70% on home textiles.
Best Buy plans four themed sales events throughout October, including an Apple Trade-Up event through October 13, where customers can trade in select Apple devices for discounts on newer models. Best Buy will also hold a gaming-focused sale tied to the release of “Call of Duty: Black Ops 6” starting October 25, with deals on software, consoles, and accessories.
Meanwhile, Big Lots has reintroduced its “Black Friday Fridays” event, offering up to 50% off every Friday through December 6.
These early sales efforts come as consumer confidence shows signs of improvement. The University of Michigan’s latest Index of Consumer Sentiment rose to 70.1 in September, up from 67.9 in August. While consumers remain wary of high prices, they recognize that inflation has been slowing, which could lead to increased spending during the holiday season.
