More than half (64%) of U.S. consumers say the cost of living and inflation are likely to impact spending during the upcoming holiday season, and 11% will postpone the holidays until early 2025 as they plan to purchase gifts during the post-Christmas sales.

These are the results of Invoice Home’s Holiday Spending 2024 survey, conducted in conjunction with research firm Censuswide.

“By delaying their holiday shopping until the sales, consumers hope to save money. With uncertainty surrounding inflation and the cost of living, Americans are already thinking about what this will mean for their wallets this holiday season,” said a press release about the survey.

Consumers said that if prices continue to rise due to inflation/external economic factors, they will reduce spending and save money by:

• Do not travel (25%).
• Renunciation of donations (24%).
• Economical gifts (23%).
• Boycott brands that do not offer free shipping/returns (11%).
• Re-gift all Christmas presents (8%).
• Taking out a second mortgage (5%).

“When we analyze this data and examine what it means for businesses, we can see the shift in consumer shopping for the 2024 holiday season. Spending time now to improve your online presence, conduct holiday-specific keyword research, and expand your reach to reach consumers where they are will be critical to attracting business this year,” said Petr Marek, co-founder and CEO of Invoice Home, in the press release. “And the most important piece of advice for businesses over the next few months: train your employees to provide the best customer experience.”