Ecommerce

50+ Holiday Shopping Statistics & Key Marketing Insights [2024]

By Tinuiti Team

Aug 18 2023

Beyond the fun festivities, the holiday season is an incredibly significant time for both businesses and consumers alike, shaping economic landscapes year after year. In this post, we’ll discover how the art of gifting fuels retail sales and steers supply chains. We’ll also highlight the impact of online versus in-store shopping and key seasonal sales for brands.

From the early-bird shoppers who meticulously plan to the last-minute buyers looking for a steal, we’ll dive into the interesting ways consumers interact with the market in the months leading up to the festivities. Let’s unwrap the top statistics behind the most anticipated shopping season of the year.

Holiday Shopping Research

Before diving into the stats, join Elizabeth Marsten and Bob Avellino from Tinuiti as they dive into the latest insights from our 2024 Holiday Shopping Trends Research. In this video (below), they discuss the impact of the election year on holiday shopping, the importance of early advertising, and how brands can leverage social commerce and AI to drive sales.

The Most Important Holiday Shopping Statistics for 2023

For our 2024 Holiday Shopping Trends study, our experts recently surveyed over 1,000 holiday shoppers in the United States regarding their plans for the 2024 holiday season. Here are some of the key insights we found:

54% of holiday shoppers plan to spend about the same amount as last year. 25% said they’d spend more, and 21% plan to spend less
72% of respondents believe the rate of inflation will have at least a somewhat negative impact on their holiday spending
Gen Z is getting most of their holiday gift ideas from TikTok, followed by Instagram, YouTube, Pinterest, and Facebook
23% of holiday shoppers plan to use Temu, but that rate jumps to 30% among Gen Z. Shein sees an even larger lift from 15% among all online shoppers to 36% among Gen Z
54% of shoppers in the United States said they would use AI tools in some capacity as they shop for holiday gifts, but only 3% said they would use ChatGPT specifically
The top factor influencing holiday shopping behavior is price or discounts (83%), followed by the availability of free shipping (6%) and the ability to buy online and pick up in store (4%)

Overall, this data represents a few emerging trends among holiday shoppers in the United States. Value-conscious shoppers are on the rise – but shoppers are certainly still looking for unique and trendy gifts on platforms like TikTok, Instagram, and Pinterest. And while ChatGPT is unlikely to drive too many holiday sales this year, consumers are turning to other AI-driven solutions like Amazon’s Rufus to make the best buying decisions for friends and family.

Holiday Consumer Spending Statistics

According to the National Retail Federation, consumers spent 3.8% more in 2023 compared to 2022. While the official numbers for 2024 are still pending, Salesforce predicts this growth will slow to 2% during the 2024 holiday season.

Our findings broadly align with this prediction. First, general spending trends are slowing slightly – in 2023, 37% of respondents expected to spend more on gifts compared to 2022. This year, only 25% expect to spend more year-over-year. When asked if inflation would dampen their holiday spending plans, 72% of respondents to our Holiday Shopping Study reported inflation would have “at least a somewhat negative impact.”

With that in mind, it should be no surprise that perceived value is the overwhelming factor influencing shoppers this year while discount marketplaces like Temu and Shein grow in popularity.

While this year won’t be an easy one, a little preparation can go a long way. As your brand vies for the attention of increasingly budget-conscious consumers, keep the following statistics and trends in mind:

60% of consumers will begin holiday shopping before Thanksgiving [1]
Roughly 30% of shoppers gear up to kick off their holiday shopping as early as October or even before – a statistic our team has found three years in a row [2]
Just 15% of consumers plan to wait until December to begin holiday shopping [5]
60% of U.S. holiday shoppers plan on spending more than $250, with 10% planning to spend more than $1,000 [3]
The second most popular gift category, behind clothing, is gift cards and 59% of men say they’ll buy gift cards – up from 44% in 2020 [4]
The top influences for holiday purchase decisions include: Price (50%), sales or discounts (22%), free shipping (13%), fast shipping (7%), BOPIS (4%), easy returns (4%) [3]
When making last minute gift purchases – 58% go in store and purchase, 39% get physical gift cards, 24% BOPIS, 23% get electronic gift cards, 21% will order products online even if it means a late gift, 15% will buy supplies to make a gift [3]
As of 2021, 60% of consumers have reported using a Buy Now Pay Later (BNPL) service [6]
In 2022, consumers prioritized smaller purchases, with 72% stating they spent under $200 on a mix of holiday gifting and everyday essentials [7]
Across the 2022 holiday season, consumers spent a total of $1.14 trillion online globally and $270 billion in the U.S. [8]
In 2022, holiday season retail sales grew by 4.8% YoY, following two years of surging retail and ecommerce growth. We expect a similar 4.5% gain for the 2023 holiday season [9]
On average, 46% of global consumers preferred Buy Now Pay Later (BNPL) compared to a quarter of consumers who said they would opt for credit cards [10]
Households earning over $150K actually plan to spend 21% – almost $327 more – than they did last year on holiday purchases [11]
Shoppers look at social media for inspiration during the holiday season with 56% of Gen Z respondents saying they look at TikTok and 38% of Boomers check out Facebook [2]

How Gen Z Is Shopping During the 2024 Holiday Season

85% of Gen Z plans to use a phone or tablet to holiday shop compared to 87% of millennials [3]
Shoppers look at social media for inspiration during the holiday season with 56% of Gen Z respondents saying they look at TikTok while 38% of Boomers check out Facebook [2]
Among Gen Z, 34% expect to spend more on holiday gifts overall in 2024, a slight decrease from 46% in 2023 [1]
In 2024, 47% of Gen Z expected to spend more buying presents online compared to 2023 [1]
22% of Gen Z plans to spend over $500 for the holidays in 2024 [1]
In 2023, 33% of Gen Z planned to spend at least $250 on gifts [2]
Among Gen Z, 59% expect to do half or more of their holiday shopping over the Cyber Five. For baby boomers that rate drops to 39% [1]
66% of Gen Z are planning to buy gifts for friends in 2024. By comparison, that number is just 33% for baby boomers [1]
Gen Z is more likely to treat themselves in the 2024 holiday season – 39% of Gen Z plans to self-gift this year, compared to just 25% of the general population [1]
In 2023, 50% of Gen Z planned to do some holiday shopping at Target – approximately 8% more likely than the general population. [2]
55% of Gen Z shoppers expect to purchase beauty products this holiday season, compared to just 14% of baby boomers [1]
38% of the population reports discovering holiday gifts on social media, but that rate jumps to 64% among Gen Z [1]

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Online Holiday Shopping Statistics

Online shopping has essentially become its own holiday tradition. In our digital age, more people are turning to their screens to find the perfect gifts, making online shopping a dominant force in the holiday season. Let’s take a look at some of the top online shopping stats.

62% of shoppers plan to “buy mostly online” [5]
Paid search remained the biggest driver of sales for retailers, with 29% of online sales attributed to that channel. Direct web visits (19%), organic search (17%), affiliates/partners (16%), and email (15%) were also major drivers [12]
According to a September 2022 survey, more than half of Gen Z consumers in the U.S. expected to buy more online and in-store this holiday season than last year [13]
75% of respondents to our Holiday Survey said they will do at least some of their gift shopping on their phone [4]
Only 14% of customers plan to shop online only [3]
70% of online shoppers foresee making purchases on their phone, 31% on tablet, 55% on desktop, and 8% using voice assistant devices [3]
86% of shoppers will holiday shop on Amazon, 60% on Walmart.com, and 47% on Target [3]
Roughly 57% of U.S. consumers plan to shop online during the holiday season (Source).
More than 80% of shoppers 40 and under will use their phones to find gifts, as will 66% of those over 40 [4]
34% of consumers buying gifts this year plan to spend more money online, and 24% are hoping to spend less money online. [1]

In-store Holiday Shopping Statistics

While online shopping dominates, don’t count brick-and-mortar stores out. Let’s explore key statistics that shed light on the popularity of in-store shopping during the holiday season.

85% of holiday shoppers plan to do at least some of their shopping in-store, the majority saying they will first check availability/stock before going to stores. [4]
Tinuiti’s 2024 Holiday Shopping Report found that 29% of shoppers across demographics plan to do a majority of holiday shopping in-store. [1]
Only 8% of customers plan to shop in store only with 39% buying majority online and some in store [4]
According to a survey, in both 2021 and 2022, 43% of shoppers in the U.S. planned to go to stores [14]
47% of respondents to an NRF survey stated that they plan to make their holiday purchases at a department store [11]
44.1 million people are expecting to shop exclusively in stores on Super Saturday [11]
More than 122.7 million people visited bricks-and-mortar stores over the 2022 Thanksgiving holiday weekend, up 17% from 2021 [15]
21% of consumers in the United States plan to spend more money in physical stores during the 2024 season, while 33% would like to spend less. [1]

Black Friday, Cyber Monday, & Early Prime Day Statistics

From the frenzy of Black Friday and Cyber Monday to the anticipation of The Prime Early Access Sale, these events set the stage for incredible deals and mark the beginning of a shopping extravaganza. Let’s check out some of the top statistics for these major shopping holidays.

28% plan to start shopping on Black Friday or Cyber Monday [5]
Cyber Monday 2022 was the largest retail ecommerce sales day in U.S. history with consumers spending $11.3 billion online—a 5.8% increase over 2021 [16]
29% of Prime Early Access shoppers used the sale to purchase holiday gifts. Of those who purchased gifts, 69% say they completed less than half of their holiday shopping, and 95% say they’re likely to shop on Amazon again for additional holiday items in the next three months [17]
Prime members ordered more than 100 million items from Amazon’s selling partners during the Prime Early Access Sale [18]
Consumers spent a record $9.12 billion while online shopping last Black Friday, which tracks more than 85% of the top 100 U.S. online retailers. That’s an increase of 2.3% over a year ago [19]
U.S. retail sales on Black Friday rose 12% year-over-year (Source).

Conclusion

Preparation is the cornerstone of holiday success for brands. Understanding the intricacies of consumer behavior, harnessing the power of seasonal sales, and embracing the surge of online and in-store shopping can make all the difference in your bottom line.

Want more insights? Check out our full research report, 2024 Holiday Shopping Trends.

References

[1] Tinuiti 2024 Holiday Shopping Trends Report https://tinuiti.com/research-insights/research/2024-holiday-shopping-trends/
[2] Tinuiti 2024 Holiday Shopping Trends Report https://tinuiti.com/research-insights/research/2023-holiday-shopping-trends/
[3] Tinuiti 2022 Holiday Shopper Study https://tinuiti.com/research-insights/research/2022-holiday-shopper-study/
[4] Tinuiti 2021 Holiday Shopper Study https://tinuiti.com/research-insights/research/2021-holiday-consumer-spending-trends/
[5] https://tinuiti.com/blog/shopping-feed/google-shopping-ads-trends-holiday/
[6] https://www.bankrate.com/loans/personal-loans/buy-now-pay-later-statistics/
[7] https://nielseniq.com/global/en/insights/analysis/2022/bev-al-holiday-shopping-outlook-and-opportunities/
[8] https://www.prnewswire.com/news-releases/global-online-sales-top-1-14t-during-2022-holiday-season-salesforce-data-reveals-301716988.html
[9] https://www.emarketer.com/content/us-holiday-2022-review-holiday-2023-preview
[10] https://www.statista.com/statistics/1347130/bnpl-consumer-interest-during-holiday-shopping/
[11] https://nrf.com/research-insights/holiday-data-and-trends/winter-holidays
[12] https://www.emarketer.com/content/deals-ruled-2022-holiday-shopping-season
[13] https://www.statista.com/statistics/1270466/expected-change-online-holiday-shopping-united-states-age/
[14] https://www.statista.com/statistics/1186198/in-store-vs-online-holiday-shopping-in-the-united-states/
[15] https://nrf.com/media-center/press-releases/record-1967-million-consumers-shop-over-thanksgiving-holiday-weekend
[16] https://www.emarketer.com/content/cyber-monday-projected-biggest-online-shopping-day-ever
[17] https://tinuiti.com/blog/amazon/the-amazon-prime-early-access-sale-recap-2022/
[18] https://press.aboutamazon.com/2022/10/tens-of-millions-of-prime-members-shopped-amazons-holiday-kick-off-event-ordering-items-from-top-selling-categories-like-apparel-home-toys-and-amazon-devices
[19] https://www.usatoday.com/story/money/shopping/2022/11/26/black-friday-2022-online-sales-record/10780279002/
[20] https://www.emarketer.com/content/black-friday-sales-rise-12-yoy