Walmart and Target plan to begin offering deals earlier this year to keep up with soaring inflation holiday shopping and ease the pain for consumers at checkout.
The strategies, announced Thursday, come as many expect holiday sales to slow in 2022 compared with a year ago.
That could mean more ad buying by brands on a variety of marketplaces to get the word out about lower prices, including on eBay.
Some 63% of online shoppers report they are likely to purchase a sponsored or promoted product during the holiday season, and 83% of eBay shoppers said it’s likely they will view an item at the top of their search results and then go on to purchase it.
This week, eBay Ads released its latest holiday report, which estimates that 71% of survey participants say they plan to spend the same or more than they did in years past.
The same trend was seen across eBay shoppers, with 68% planning to spend the same or more on their holiday purchases.
Despite record-setting inflation rates — 9.1% as of July 2022 — and other economic challenges, shoppers are still planning to spend the same or more than they did in 2021 when it comes to their holiday shopping, according to data released this week.
The report, which surveyed 1,500 eBay shoppers and 2,00 online shoppers, found that shoppers still plan to spend despite high inflation and a potential recession.
Most shoppers agree that shopping early will help them find what they need at a reasonable price. Some 48% reported that they have already purchased gifts, 36% already purchased decorations, and 29% have purchased wrapping paper.
Searches for brands and products differ across consumers, but among Gen Z, the generation most likely to shop online, top searches in 2021 included:
On average, every hour during the holidays on eBay Millennials shoppers bought:
Shoppers are spending more and starting early, but 81% still consider a good deal as their top priority. Millennial shoppers will hunt for deals this holiday season in comparison to their Gen Z counterparts, with 66% of Gen Z shoppers planning to spend more on holiday shopping and celebrations, and only 39% of millennial shoppers intending to do the same.