As pandemic anxieties diminish, consumers are reimagining Thanksgiving shopping traditions and navigating the new normal. Spending is expected to increase 12% to an average of $448, to surpass pre-pandemic levels. The surge is driven by middle-income shoppers who plan to spend an average of $504, up 18% from last year.

More than one-third (35%) of holiday shoppers plan to increase their holiday spending compared to just two months ago; 41% of those planning to spend more will do so as a result of higher prices this year.
Even though holiday shopper participation during the Thanksgiving period is on the decline, most (71%) still plan to shop this year, compared to 74% in 2020 and 79% in 2019.
People are shopping earlier. Seven in 10 consumers (70%) said they started before the end of October (versus 66% last year and 61% in 2019) to avoid stockouts (70% versus 55% last year).
Sixty-four percent of consumers will check to see if an item is in stock before they go to the store.
Nearly two-thirds of shoppers (63%) have already experienced stockouts. When they do, six in 10 (60%) say they go look elsewhere. That suggests retailers will need to have a strong replacement strategy.
Interest in gift items such as clothing (66%), toys (56%) and electronics (53%) remains steady. However, these categories are where shoppers have experienced the most stockouts. Additionally, shoppers buying food and beverage is up by 8 percentage points year-over-year to 52%.
Of the shoppers who plan to increase their holiday spending compared to just two months ago, 55% will spend more on experiences and entertainment, up from 49% last year.
Early holiday shoppers experienced discounts at similar levels (54%) or less often (37%) than last year; only 9% of early holiday shoppers saw higher promotions year-over-year.
To stretch their budgets, 35% of consumers plan to use credit cards, and 30% will take advantage of buy now pay later options. These practices are even more prevalent among Millennials (46% and 48%, respectively).

Deloitte: Consumer Sentiment Improves as the Excitement of Black Friday Returns

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