According to Mastercard 46% of U.S. consumer holiday spending occurs between Cyber Monday and December 24th

The holiday season is already here.

We have only a few days left before Thanksgiving.

And after thanksgiving the holiday shopping is in full swing.

A Mastercard analysis from BCG investigated the holiday shopping season to learn when U.S. consumers spend the most during the holiday season.

According to a Mastercard analysis from BCG, 46% of U.S. consumer holiday spending occurred after Cyber Monday and before December 24 in 2022.

Last year, the average U.S. holiday shopper still had 50% of their shopping left to do coming out of Cyber 5, and only three weeks to complete it.

That’s a lot of money being traded in only 3 weeks.

Last year, 82% of peak-season purchases made in December were for someone other than the shopper, which is a significantly higher share than at any other point in the season.

And as people shop for others, they’re considering more brands. In 2022, we saw the purchasing of new brands ones that holiday shoppers hadn’t bought in the past.

In-store shopping climbed to record heights last holiday season, topping $1 trillion for the first time ever.

One key behavior driving the rise in brick-and-mortar shopping is the use of digital resources before visiting a store.

Such tools not only help people decide what they want to buy but also give them a way to buy it and pick it up at their convenience.

“Last year, 30% of our online orders were fulfilled through our more than 1,350 physical stores, which is very different from what it was a couple years ago,” Cherie Yates, manager of search at Ulta Beauty, told Google.

Determined shoppers use all resources available to them to complete their shopping, including their spare time.

They almost equally spread out their purchases between weekdays and weekends.

Last holiday season, consumers spent on average $4.2 billion on weekdays and $4.4 billion on weekend days, according to a Mastercard credit card analysis conducted by BCG.

So how can you as a small business owner take advantage of this?

You should have good deals, and also have a good online strategy that can help you keep organized during the peak season.

A social media and or an email campaign, that highlights your Cyber Monday, and black Friday deals are important this season.

Here is a stat to back up this claim.

• The majority of U.S. consumers agree that looking for deals, discounts, and promotions online is helpful (89%) and enjoyable (75%).

And also remember these two important facts.

• U.S. holiday shoppers are most likely to shop for their children (41%) and spouses or significant other (32%), first followed by 22% who say they’ll shop for themselves first.

• U.S. holiday shoppers are most likely to purchasing gifts for those they feel are most important (28%), followed by taking advantage of sales or discounts they come across (25%) and the budget they allocated for each person (24%).

One last important stat.

• Searches for “black Friday deals” have grown over 80%.

I hope you small business owners use this information to pursue your business goals and make customers happy.

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