2024’s Holiday Shopping Frenzy Calls for Strategy

As the holiday season approaches, retailers and manufacturers are gearing up for a shorter shopping period between Thanksgiving and Christmas.

And, according to Circana’s Chief Retail Advisor Marshal Cohen, that means added frenzy and impulse buys. Brick-and-mortar stores benefit most from this shopping behavior (provided there’s no buyer’s remorse!) and critical to retail growth.

Three Spending Peaks

The traditional holiday shopping pattern has shifted with three spending peaks separated by lulls, he explained. This new pattern emphasizes the importance of retailers and manufacturers hitting the right notes at the right time to engage consumers and outperform the competition.

The first peak consisted of fall retail promotions. Per this year’s Holiday Purchase Intentions study, nearly a third of holiday shoppers said they plan to wait until the Thanksgiving holiday weekend — the second peak — to start their holiday shopping. More than 20% of holiday shoppers won’t start until December — which this year includes Cyber Monday — creating the final peak just before Christmas.

Cohen encourages retailers and manufacturers to strategize to capture consumer attention during these limited, but critical shopping days to get the best of this retail frenzy.

“When there is less urgency to shop from a value-driven, deal-seeking consumer, with few hot products being sought out, the holiday timing frenzy becomes retail’s best friend,” said Cohen.