Black Friday deals have come early as major retailers like Amazon, Walmart, Target and Best Buy are offering discounts now, weeks before the start of the traditional holiday shopping season. Bankrate Senior Industry Analyst Ted Rossman says an early start gives shoppers more time to research and spread out their cash flow
“The early start makes a lot of sense in terms of finding the best deals and maybe setting money aside from every paycheck between now and the holidays so you’re not going into credit card debt.”
With the average credit card rate at 21 percent, Rossman says a third of holiday shoppers expect inflation to impact their buying habits. He says early shoppers are looking for coupons, discounts, and sales.
“We found that almost 90 percent of holiday shoppers are looking for ways to save money and spread pretty evenly between people who are buying less stuff and people who are really aggressive looking for discounts.”
Rossman says 25 percent of shoppers are stressed about the cost of holiday shopping. While retailers are offering early promotions, Rossman says shoppers are eager to get the best deals but they are also being smart spenders.
“We’re seeing a very price-conscious consumer this year, yes they want to have a great holiday, but they’re not going to bust the budget.”
Comments