The Deloitte holiday retail survey for 2022 reveals that consumers are preparing for the holiday season despite economic pressures. The survey, which has been conducted annually for 37 years, shows that inflation is impacting the US economy and shifting consumer priorities. Shoppers are starting their holiday shopping earlier than last year, with 38% planning to begin before November. Additionally, 37% of American households report that their financial situation is worse than last year, and 73% expect product prices to be higher this year. Despite these challenges, online shopping is expected to dominate the season, but brick-and-mortar stores may have a silver lining as shoppers are taking fewer chances and are more likely to spend their holiday budget earlier.
