Walmart is set to kick off its holiday shopping promotions earlier than ever this year, as consumer trends shift toward early purchasing. The retail giant announced on September 19 that nearly 50% of consumers are expected to begin their holiday shopping in August and September, driven by a desire to stay within budget.
To accommodate this trend, Walmart will introduce its first Holiday Deals event starting October 8, coinciding with Amazon’s Prime Big Deal Days. The company aims to provide shoppers with significant savings ahead of the typical holiday rush, including the return of its inflation-free holiday meal offer, available earlier than in previous years.
Walmart+ members will receive exclusive early access to deals, with special offers beginning at midnight on October 8 through the Walmart app and website. General customers can start shopping at noon the same day, with in-store sales set to launch the following day.
Despite expectations of a slower holiday shopping season compared to last year, strong eCommerce growth is projected. Consulting firm Deloitte forecasts that online sales will increase by 7% to 9%, reaching between $289 billion and $294 billion this season.
Michael Jeschke, a principal at Deloitte Consulting, stated, “Our forecast indicates that eCommerce sales will remain strong as consumers continue to take advantage of online deals to maximize their spending.”
Research shows that many consumers, particularly the 60% living paycheck to paycheck, are becoming more budget-conscious due to inflation. PYMNTS Intelligence reports that a significant number of these consumers have not experienced income growth sufficient to offset rising costs. Consequently, 92% of those living paycheck to paycheck have altered their shopping behaviors in response to price increases, with many embracing a “budget shopper” mindset.
These budget-conscious shoppers are increasingly seeking out deals, opting for cheaper retailers, and planning their purchases around discounts, reflecting a shift in consumer behavior as they navigate the economic landscape.