Holiday shopping trends 2024

Holiday budgets: Are shoppers ready to splurge or save this season?

For holidays 2024, are shoppers tightening their belts or letting loose? From the US to the UK and Canada, we found some interesting patterns in how holiday budgets are being stretched—and where shoppers are ready to spend big.

Financial comfort is a key factor influencing these decisions; it’s clear that while some are still keeping a close watch on their wallets, others are ready to indulge. Despite these differences, the data reveals a general sense of cautious optimism. While financial concerns still weigh on some, others are ready to indulge in holiday shopping, with confidence levels in the UK leading the way.

The great holiday countdown

So, when do shoppers really get serious about their holiday buying?

Early-bird shoppers who start around Halloween seem to be more cautious and strategic, avoiding the rush, while those who wait for Black Friday/Cyber Monday are clearly driven by the excitement and depth of the discounts.

Holiday anticipation: Which event steals the spotlight?

Black Friday bargains, Cyber Monday deals, or Boxing Day blowouts? We asked shoppers what they’re most excited about.

When it comes to holiday excitement, one event clearly stands above the rest:Black Friday, with 57.15% of respondents are eagerly looking forward to it. Cyber Monday follows closely, with 23.64% of shoppers excited to snag online deals

Breaking this down by generation, for Gen Z, Black Friday reigns supreme, with an overwhelming 68.06% marking it as their favorite shopping event, followed closely by Cyber Monday and Boxing Day.

Millennials show a similar pattern, with 67.57% of them thrilled about Black Friday, though Cyber Monday and Thanksgiving also capture their attention.

Meanwhile, 53.68% of Gen X are all about Black Friday, many are also looking forward to Boxing Day Sales.

Baby Boomers are excited about traditional events like Thanksgiving and Boxing Day sales apart from Black Friday.

The words behind the excitement

What makes a holiday event truly special? It’s more than just the deals; it’s the entire experience. Whether it’s snagging early bargains on Black Friday or soaking in the festive atmosphere of Thanksgiving, shoppers are drawn to these events for different reasons, and their excitement shines through in their own words.

The word cloud offers a quick glance at what excites people most about these events

For many, Black Friday/Cyber Monday is all about the thrill of the hunt. As one shopper put it, “I get most of my expensive items here to save money for other things.”

Another said, “It’s the crazy deals and the longer sales that keep me coming back.” Beyond the savings, the mood of the day is part of the charm: “The stores are all decorated, there’s music playing—it really puts you in the holiday spirit,” reflected one shopper.

On the other hand, Thanksgiving evokes a different kind of excitement. It’s more about tradition and the cozy, warm feeling that comes with it.

“It’s a day for me to watch the parade, movies, and plan my Thanksgiving meal with family,” a person shared.

What’s on the wishlist?

Food and beverages emerge as the top priority, reflecting a desire for festive feasts and indulgent treats this season. Close behind, electronics and apparel also capture significant shares, suggesting a balanced approach to both gifting and personal enjoyment.

As we dive into this year’s holiday wishlists, it’s fascinating to see how each generation is shaping the season

Apparel and beauty products dominate Gen Z’s wishlist. This generation isn’t just shopping for things, they’re curating a personal brand and every purchase is a deliberate step toward defining who they are.

For the Millennials, the holidays are less about material gifts and more about creating memories. They’re leaning into the idea that the best moments aren’t wrapped in paper; they’re shared around a table or experienced in new places.

Gen X, meanwhile, is focusing inward. With their eye on home decor, it’s clear that they’re not just preparing for the holidays—they’re setting the stage for something more personal.

And then there’s the Baby Boomers, who are making deliberate, thoughtful choices. They’re investing in technology that simplifies, and in products that promote well-being

What seals the deal?

When it comes to holiday shopping, certain factors weigh more heavily on shoppers’ minds. But what drives people to hit that “buy now” button? Let’s take a look.

It’s fascinating to dive deeper into what these numbers reveal about shopper behavior. Discounts are no longer just about saving a few bucks—they’ve become a key motivator, pushing shoppers to act quickly before they’re gone. But even as shoppers hunt for bargains, the importance of quality stands out. This shift toward quality shows that shoppers are willing to invest, but only if they’re confident in what they’re getting. Lastly, convenience has transformed from a luxury to an expectation. Today’s shoppers want a frictionless experience, whether they’re navigating online platforms or walking into a store.

As we dive into what shapes holiday shopping choices, each generation, we find that while discounts remain a strong motivator across the board, they aren’t everything. The data reveals that shoppers are equally driven by product quality. It’s clear that while price cuts get attention, ensuring a high-quality product seals the deal for most shoppers.

Holiday shopping destinations: The top choices this season

When it comes to where shoppers are spending their time (and money) this season, three key channels stand out:

As we explore the shopping landscape, it’s no surprise that online marketplaces dominate the scene. Their convenience and ability to deliver almost anything at the tap of a button make them irresistible to modern shoppers.

But the pull of large retail chains remains strong, especially for those looking for in-store experiences—places where they can browse, compare, and walk out with their purchases in hand.

What’s particularly interesting is the continued relevance of shopping malls. Despite the rise of e-commerce, malls still offer something that can’t be replicated online—the social, tangible experience of holiday shopping in a festive atmosphere!

Across all age groups, online marketplaces are the clear favorite, topping the list across all generations.

While large retail chains remain a solid second choice for Millennials and Baby Boomers, both are also drawn towards small businesses and thrift shops — perhaps a nod to the nostalgia of holiday shopping in person.

Gen Z seems to have an affinity for brand-specific stores. While they love the convenience of online shopping, they’re also drawn to the exclusivity offered by visiting the showrooms of their favorite brands.

It’s also worth noting that social commerce (e.g., Instagram, Facebook) hasn’t quite caught on with any generation yet, with all age groups giving it minimal attention—Gen Z included.

Final thoughts: The festive journey ahead

Holiday shopping isn’t just about the items in our carts or the deals we hunt down—it’s about a shared excitement that transcends borders and generations. This year, shoppers are navigating familiar traditions and embracing new ones, all with a common thread: the desire to make this season special.