Holiday shopping in an era marked by high prices

The holiday season is a special time of year when families and friends gather to celebrate their faith and enjoy opportunities to spend time together.

Many a tradition has come to define the holiday season, and exchanging gifts with loved ones is among the most popular customs come December.

Shopping for holiday gifts commands a lot of attention. Holiday shopping also is a costly endeavor, particularly in an era marked by high prices. Despite the rising costs associated with inflation, consumers appear ready to spend this holiday season.

According to the Basis 2026 Winter Holiday Shopping Trends study, 35% of consumers are planning to increase their holiday spending this season. But 57% of consumers acknowledge they intend to look for deals and discounts more actively this holiday season, while one in three admits they will shop while sticking to a stricter budget.

As high prices loom over the holiday season, shoppers can keep these tips in mind to avoid overspending:

• Avoid blind shopping. Starting a holiday shopping excursion without knowing what you’re looking for can lead to impulse buying and overspending. Prior to shopping, make a list of the people you will be shopping for and the dollar amount you intend to spend on each person. Once that list has been made, jot down some gift ideas next to each person’s name. Gift ideas should reflect how much you intend to spend on each person. This pre-shopping planning should not take long, and it can reduce the risk of overspending and even save time on shopping excursions.

• Track your spending. It’s easy to lose track of holiday spending, particularly for shoppers who start months in advance of the holiday season. But tracking all gift-related spending, including dollars spent on items purchased months in advance of the holiday season, is vital to staying within your budget.

• Take advantage of retail holidays at local businesses. Many retailers, whether they’re big box stores or locally owned independent businesses, participate in retail holidays like Black Friday, Small Business Saturday and Cyber Monday. Such days offer plenty of opportunities to find great deals. This can be especially true when shopping at locally owned, independent retailers. Big box stores and online retailers may offer great deals, but only limited inventories. By the time shoppers get to the store or visit the website, many of the best deals might be gone, and shoppers will then settle for non-sale items. Smaller businesses may offer store-wide discounts on retail holidays, ensuring shoppers can find great deals throughout the day and not just during the small window when sale items are still available.

• Coordinate with fellow shoppers. Pooling resources with family members is a great way to find great gifts without breaking the bank. If someone on your list really wants a big ticket item like a new tablet or television, coordinate with your family members to pool your resources so that wish can be granted without anyone ending up in debt.

Holiday shopping when inflation is high can be difficult. But there are many ways to shop and save even when prices are high.