Wealthier Households Plan to Start Holiday Shopping Earlier
Reuters reports that a survey by Consumer Edge Research has found that households with incomes of $150,000 or more plan to start holiday shopping early. Black Friday results could look deceptively good because of this trend.
The highest income households, or those earning $150,000 or more, plan to get an early start on their shopping, according to the survey by Consumer Edge Research.
Lower income shoppers and those who have lost their jobs, or fear getting laid off, will wait to see what bargains pop up as Christmas approaches, the survey found.
"As we get further on into December and toward the year end, you're going be left with low income households that are holding out, and they've indicated they're going to spend a lot less than a year ago," Consumer Edge Chief Executive Bill Pecoriello told Reuters in an interview.
By shopping later the households with lower incomes may miss out on some of the best discounts as the deals and discounts tend to be better early in the year. They will also get stuck in the bigger crowds at the mall.
