Breaking News
More () »

Holiday shopping season starting early this year with some sales already underway

Experts say there are several reasons why retailers are getting a head start this year and several reasons why shoppers should too.

MINNEAPOLIS — It seems like every year holiday shopping starts earlier and earlier.

Case in point, there are sales happening right now and it's not even Halloween yet.

Amazon and Walmart both have big sales going on this week.

Target had their big sale last week and the company says more deals are coming.

Experts say there are several reasons why retailers are getting a head start this year and several reasons why shoppers should too.

The big box stores are starting holiday shopping early this year not because they're suddenly in the holiday mood, many of them just have too much stuff.

"A lot of the retailers like Target and Walmart and so forth actually wound up with a lot of excess inventory they just simply weren't able to unload,” University of Saint Thomas finance professor David Vang says.

Vang says companies are basically clearing out their warehouses and marketing it as holiday shopping.

He says competition is also playing a role as retailers seek to outdo each other.

"When one company has a sale early, then another wants to start even earlier and that's also fueling this early start," Vang says.

And it turns out many shoppers are also getting an early start.

"People might be buying now just to avoid paying at a higher price potentially later on,” Vang says.

Yes, inflation is definitely on people's minds.

A new survey from Bankrate shows 40% of shoppers are worried about inflation.

It's why about half of all shoppers say they plan to start shopping before Halloween.

About 8% say they were already shopping for the holidays back in August.

And the way things are this year, Vang says starting early is the way to go.

"If you buy it now you might get some good deals, if you wait, you might get some good deals then but you're running the risk that maybe the inventory levels or selection might not be as good,” Vang explains.

"You might not get what you want."

But if you're willing to wait, and risk it, Vang still expects to see a lot of great deals on Black Friday and Cyber Monday, because that's how they lure people in to spend a little more later in the season.

"And so what's left over is stuff no one else wants, but if it's what you want you will get a good deal at that time,” Vang says.

With this early start retail experts are expecting to see fewer shoppers on Black Friday.

Many experts and forecasts are actually predicting less holiday spending overall due to inflation.

FedEx recently lowered its holiday shipping projection, expecting fewer packages and Walmart recently announced they're hiring fewer workers this year.

MORE NEWS: Signing the back of your credit card is not a significant security risk

MORE NEWS: Uber, Lyft shares plummet after Department of Labor proposes new rules for gig workers

Before You Leave, Check This Out