TAMPA, Fla. — There are just 75 days until Christmas and today is the unofficial start of the holiday shopping season.
Amazon is having Prime Days and several other retailers are advertising "Black Friday" deals now. A recent survey from Bankrate shows that half of us are starting our holiday shopping this month. The big reason why — inflation.
Ted Rossman is a Senior Industry Analyst at Bankrate. "Last year it was really all about the supply chain. We were saying that everything is such a mess and you might not get what you want, so you gotta start early. I think this year it's really inflation that's the elephant in the room."
Rossman says inflation is changing the way we shop. In the survey, many of you said that's why you are starting your holiday shopping earlier this year. Many are looking for more discounts and buying fewer items overall.
Even if you don't plan on doing the actual shopping right now, it's a good idea to set a budget and create a gift list. That way if you do see a great deal, you can jump on it.
Rossman says you'll find the best deals on clothing, toys and electronics. Physical goods that are in ample supply right now with less demand.
According to Bankrate, the highest demand is still in travel and experiences. People are spending more of their money now on things they couldn't do during the height of the COVID-19 pandemic.