How Holiday Discounts Could Leave You Spending More

Holiday Shopping

Holidays are fast approaching, and with them the perhaps most expensive time of the year. Gift shopping, decorations, parties and celebrations – it all costs a lot. And this year, Americans are expected to “trade up” on their holiday purchases to boot.

More shoppers are likely to reach for name-brand products while holiday shopping this year, according to a report from Adobe Analytics.

High Discounts

Retailers are expected to offer chunky discounts of up to 30% in the coming months to drive spending among increasingly cost-conscious consumers. This is driving the prediction that shoppers will pay up for premium goods, even if they could wind up spending more than if they chose an off-brand or lower premium option.

Online sales are projected to reach nearly $241 billion over the 2024 holiday season, up 8.4% annually, per Adobe data. The share of those sales driven by more expensive goods is also set to rise by 19%, more than in the past years when high inflation made shoppers choosier.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

Communication of SoFi Wealth LLC an SEC Registered Investment Advisor

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

SOSS2410012401