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Nearly 30% of holiday budgets expected to be spent by the end of October

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Nearly 30% of holiday budgets expected to be spent by the end of October

Below is the latest edition of Modern Retail’s Supply Chain Weekly newsletter, which goes out on Mondays at 10 a.m. ET, and dives into all things logistics and supply chain during a tumultuous time for the retail industry. To receive this weekly in your inbox, click here.

A new report from Deloitte highlights how drastically holiday shopping patterns have changed in recent years.

According to the consulting firm’s annual holiday shopping survey, 22% of respondents plan to start their holiday shopping earlier than last year, and 28% of shoppers’ budgets are expected to be exhausted by the end of October — the highest level reported in six years. Beyond starting earlier, shoppers are also doing more of their shopping outside of Black Friday and Cyber Monday. Forty-two percent of respondents say they plan to participate in October sales events, an 18% increase over the past three years, and 1 in 4 shoppers say they even bought some holiday gifts during June promotional events. 

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