10 key Christmas shopping stats for fashion & retail

The festive season is upon us and with it comes the shopping frenzy that defines the holiday spirit.

From scoring Black Friday bargains to supporting independent brands, shoppers across the globe are gearing up for a fashionable Christmas.

Here are 10 key fashion stats and trends that will define the 2024 Christmas period!

1. Black Friday and Cyber Monday dominate early festive shopping

A study by Clearpay reveals that 58% of Brits planned to shop during Black Friday or Cyber Monday sales. The top motivations? Securing bargains (54%) and finding affordable Christmas presents (51%).

These events remain pivotal for holiday shoppers looking to maximise their budgets

2. eCommerce continues to boom

FedEx forecasts that eCommerce will hit record highs this holiday season. Parcel deliveries across Europe between October and December are expected to fill Wembley Stadium 34 times over – a 9% increase compared to 2023. Online shopping is undoubtedly here to stay.

3. Independent retailers gaining traction

This year, 21% of UK shoppers are intentionally seeking out smaller independent brands for their festive purchases, according to the Shopify Holiday Retail Report. With eCommerce levelling the playing field, smaller retailers have a unique opportunity to shine.

4. Fashion tops Gen Z’s wishlist

Fashion is the number one category on holiday wishlists for Gen Z. Some 69% of UK respondents – and 65% of US respondents – prioritise fashion items for Christmas, demonstrating the cohort’s affinity for style.

5. Online-only retailers maintain their edge

Shopping online remains a preferred channel for many. According to Monash Lens, 47% of Christmas shoppers plan to purchase through physical retail websites, while 48% intend to shop via online-only platforms. Convenience continues to shape consumer habits.

6. Luxury shoppers are bargain hunting too

Like most consumers, luxury shoppers are also scouting for deals. This season, 40% of them are actively price-comparing, and 24% are using coupons to shop strategically. Meanwhile, 32% of luxury shoppers plan to buy early to snag better prices, as highlighted by Accenture.

7. Optimism among luxury shoppers

Accenture also reports that 79% of luxury shoppers believe their disposable income will either improve or remain stable compared to last year. This optimism bodes well for premium brands but underscores the need to cater to value-conscious consumers.

8. Social media’s impact on shopping decisions

Social media continues to be a powerful influencer, with 89% of consumers admitting it shapes their holiday shopping choices. Platforms like Instagram, TikTok, and Pinterest remain essential for brands targeting festive shoppers.

9. Global holiday sales on the rise

EMarketer predicts that 2024 holiday retail sales will grow by 4.8% year-over-year, reaching $1.353 trillion globally. Non-eCommerce channels will also see growth, with a 3.7% increase projected, reaching $1.1 trillion.

10. Bargain hunters drive festive spending

This year’s data indicates a strong focus on affordability. From Gen Z’s wishlists to luxury shoppers’ strategies, consumers across demographics are hunting for the best deals – proving that value remains a key factor in Christmas shopping.

Closing thoughts

As these stats illustrate, Christmas shopping in 2024 is driven by a mix of tradition and innovation.

Whether it’s bargain hunting on Black Friday or discovering unique gifts from independent brands, UK shoppers are embracing diverse ways to celebrate the season in style.

This holiday season, be sure to keep these trends in mind as you tick off your Christmas shopping list – and maybe even snag a bargain or two yourself!