Release Date: October 25, 2023
BUFFALO, N.Y. — The holiday shopping season seems to get longer every year — and that’s no accident, according to University at Buffalo School of Management experts Charles Lindsey and Michael Krupski, who specialize in retail marketing strategy, brands and consumer behavior.
“Holiday shopping started earlier than ever this year, with sales like Amazon’s Prime Big Deal Days and Target Circle Week in October,” says Krupski. “The season used to be a ramp up from Black Friday through Christmas, but now we have what is being called the ‘holiday hammock,’ where the first pole goes up in October, there’s a slump into early November and then the other pole goes up from mid-November through Christmas.”
Lindsey says it’s part of a retail strategy to capture a greater percentage of consumers’ holiday wallets earlier.
“If a retailer can get your purchase early, there’s less for you to spend with a competitor,” he says. “And while it’s nice for consumers to be able to spread out their spending, they need to be mindful of sticking to their budget. Think of it like a buffet — it’s a lot easier to overeat when you have a lot of options in front of you.”
Krupski says sustainability and ethical shopping are on consumers’ radar, but don’t significantly influence purchasing decisions.
“With the inflationary environment we’re in, shoppers are being hyper vigilant about deals and are being mindful of how much they’re spending — that’s taking precedence right now for most buyers over sustainability concerns,” he says.
There are some simple ways shoppers can make more sustainable choices, according to Lindsey and Krupski:
The top digital tools to help you save:
Generative AI like ChatGPT is already being used to enhance the shopping experience, according to Dominic Sellitto, clinical assistant professor of management science and systems. Here’s how:
Other AI-related tips for the holiday season:
To schedule an interview with Lindsey, Krupski or Sellitto, contact Kevin Manne, associate director of communications, at 716-645-5238 or kjmanne@buffalo.edu.
Now in its 100th year, the UB School of Management is recognized for its emphasis on real-world learning, community and impact, and the global perspective of its faculty, students and alumni. The school also has been ranked by Bloomberg Businessweek, Forbes and U.S. News & World Report for the quality of its programs and the return on investment it provides its graduates. For more information about the UB School of Management, visit management.buffalo.edu.
Contact
Kevin Manne
Associate Director of Communications
School of Management
716-645-5238
kjmanne@buffalo.edu