How Holiday Discounts Could Leave You Spending More
By: Anneken Tappe · October 01, 2024 · Reading Time: < 1 minute
Holiday Shopping
Holidays are fast approaching, and with them the perhaps most expensive time of the year. Gift shopping, decorations, parties and celebrations – it all costs a lot. And this year, Americans are expected to “trade up” on their holiday purchases to boot.
More shoppers are likely to reach for name-brand products while holiday shopping this year, according to a report from Adobe Analytics.
High Discounts
Retailers are expected to offer chunky discounts of up to 30% in the coming months to drive spending among increasingly cost-conscious consumers. This is driving the prediction that shoppers will pay up for premium goods, even if they could wind up spending more than if they chose an off-brand or lower premium option.
Online sales are projected to reach nearly $241 billion over the 2024 holiday season, up 8.4% annually, per Adobe data. The share of those sales driven by more expensive goods is also set to rise by 19%, more than in the past years when high inflation made shoppers choosier.
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