The race for Christmas discounts has officially begun as fashion retailers prepare to shed their remaining stock before the end of the season. With inflation high and the cost of living rising, consumers are expected to shop less this year as they have less money in their pockets and less purchasing power.
Amazon is leading the trend and will be hosting a sale ahead of Prime Day in November, which the company is calling an “Early Access Sale.” Walmart also got in on the early rebate with its “Rollbacks and More” sale in October, while Target held a brief sale ahead of Amazon’s early Prime Day to avoid overlap.
According to Reuters, inflation and early discounts are expected to slow holiday spending this year. According to data from Adobe Analytics, online holiday sales in the US this year are expected to grow at the slowest pace since at least 2015, growing just 2.5 percent to $209.7 billion.
Christmas deals long before Black Friday
Black Friday, set to take place on November 25, is likely to be the culmination of a six-week discount campaign as retailers compete to extend the shopping window in order to get to disposable income as early as possible.
While it’s common in the US to start Christmas shopping early, Christmas is getting earlier in the rest of the world as well. In the UK, John Lewis, Decathlon and jewelery store Goldsmiths are all offering autumn sales, with Asos and Boohoo being among the biggest sellers with up to 70% off regular prices.
Department store giant Macy’s announced that Christmas sales will begin on October 17. “We expect the holiday shopping season to start in October, similar to the past two years,” Nata Dvir, Macy’s chief merchandising officer, told the National Retail Federation. “Our strength as an omni-channel retailer is that we are able to meet customers where and how they want to shop. As a leader in fashion and gifts, we know our customers are looking for new, exciting brands and products.”
But data from the New York Times product analytics website Wirecutter says the vast majority of sales aren’t worth it. Less than one percent of the discounted prices examined throughout the year meet the site’s criteria for product quality, retailer reliability, and price quality.
This translated article originally appeared on FashionUnited.uk.