BofA Securities predicts a surge in online spending during the upcoming holiday season, fueled by consumers’ focus on value and convenience. Amazon and Walmart are expected to reap the benefits as shoppers seek lower prices and price comparisons. The report also highlights the rising popularity of Temu, a subsidiary of PDD Holdings.
Despite high interest rates, consumer spending is expected to reach record highs this holiday season, driven by the Federal Reserve’s recent rate cut and anticipated discounts. Online shopping is forecast to be particularly strong, with electronics, apparel, and furniture leading the way. Retailers with a robust online presence, including Best Buy, Amazon, Walmart, and Costco, are poised to benefit. Buy Now, Pay Later (BNPL) services are also expected to see a surge in usage.
With Christmas just 100 days away, a new survey reveals that a quarter of shoppers have already begun their holiday shopping, driven by concerns about popular items selling out. The fear of missing out, coupled with a desire to spread the cost and find the best deals, is leading shoppers to embrace early holiday shopping strategies.
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