According to the Walmart Holiday Trend Report, consumers are prioritizing value and low prices during the gift-giving season but may splurge if something catches their attention while shopping.
Still, finances aren’t everything and 53.3% of shoppers said a gift’s meaning to the recipient is a leading consideration when choosing what to buy, with budget and good value following.
Although market research suggests that consumers will seek out value as they try to stick close to budget this year, Walmart indicated that its consumers know they’re inclined to spend more if a product really speaks to them. Although shoppers plan about 66% of their Walmart gift purchases ahead of time, they acknowledged that about a third of what they ultimately buy will be off their predetermined shopping lists.
For many people, early holiday shopping helps ensure a relatively calm December. So, 27.5% of respondents said they started the season with the intention of hitting the stores earlier this year than last.
Walmart said consumers plan to start holiday shopping as follows:
- 38.4%, October through the first half of November
- 19.9%, Thanksgiving weekend through Cyber Monday
- 10.2%, December 1-15
- 1.9%, December 16 or later
When it comes to making holiday shopping easier, 30.3% of consumers cited the ability to buy across multiple categories at once, followed by faster delivery at 20.1%, easy pickup at 11.8% and same-day delivery at 11.1%.
Self-gifting remains a factor in holiday shopping jaunts. A third of shoppers said they buy something for themselves when they find a good deal on apparel, food, wellness, activities, travel, home decor and beauty, their top spending categories.
As they consider what to buy, consumers said gift cards lead, with 35.6% of shoppers prepared to purchase them, followed by toys and games at 34.7%.
Artificial intelligence will play a significant role in holiday shopping this year, Walmart noted, as 53% of the company’s customers already say AI makes everyday tasks easier and 39% say it helps them make better decisions.
For many Walmart customers, the holidays are a season of celebrations, so 42.4% of shoppers expect to host or attend three to four gatherings this year, Walmart noted, whether for a big family dinner, a night out with friends, a gift exchange or a cookie swap with the neighbors.
