There are several holiday shopping trends influencing retailers’ this season. While shoppers are concerned about inflation, they remain upbeat about holiday giving. Instead of waiting until the last minute, however, many are shopping early and budgeting for their big holiday spends.

Through Synchrony’s Monthly Consumer Tracker (August), we set out to learn more about what would drive shoppers’ priorities, preferences and concerns this year. Our results revealed three primary trends shaping retail strategies this holiday season.

Shoppers Started Early

This year’s holiday season is longer. There are five shopping weekends between Thanksgiving and Christmas, instead of the usual four, giving consumers more time to play Santa and check their naughty and nice lists.

In fact, many shoppers told us they planned to start early — before Halloween. When we conducted our research in August, 25 percent of consumers surveyed had already created a holiday wish list or put items in an online cart, awaiting their next paycheck or retailer discounts to complete purchases.

Half of the respondents said they plan to spread purchases across paychecks as a way to combat inflation. The expanded holiday season gives these budget-conscious shoppers more time to stretch their dollars.

It’s All About Value

Almost half of the respondents said they planned to wait for items to go on sale before purchasing them. An additional 34 percent planned to shop on Black Friday to find special discounts.

However, sales alone won’t be enough to win over this year’s holiday shoppers. They want their purchase to count toward something. For instance, “Spend more, get more” deals are gaining in popularity, along with eye-popping rewards or loyalty points. Retailers should consider how they position existing and new discounts to demonstrate personalized value for customers.

Value doesn’t always have to mean deals and discounts. It can mean aligning with your customers’ personal values and preferences. The 23 percent of survey respondents who said they plan to shop in person, for instance, said they would do so because they want to support local retailers.

Online Shopping Continues to Climb

Though in-person gatherings are expected to increase in 2022, brick-and-mortar retailers continue to lose out to online shopping. Thirty-six percent of consumers surveyed expected to shop online more this year than last year.

Why? According to our research, 45 percent perceived the sales and promotions to be better online. About one-third also believed that online stores offer more reliable inventory than brick-and-mortar stores.

Loyalty programs or credit cards with online retailers influenced 16 percent of the respondents’ decision to shop online, highlighting how strategic shoppers have become in recent years. Retailers that use hurdle or threshold bonuses can incentivize online customers wanting to maximize holiday purchases. Our research suggests consumers are dedicating a growing share of the planning, budgeting and purchasing to online shopping.

A Merry and Bright Season

While the headlines are filled with inflationary concerns, consumers are approaching the longer holiday shopping season eagerly and early, hoping to find the best value for their budgets.

Retailers that meet consumers where they are should enjoy a merry and bright holiday season, despite inflationary pressures.