5 ways stores will try to lure you in this holiday shopping season

Many shoppers are tightening their belts and rethinking how – and where – they’ll spend their money. With inflation still straining wallets, consumers are trading in their usual splurges for more calculated purchases.

Retailers have already rolled out their holiday strategies, from early deals and extended promotions to exclusive in-store experiences, giving consumers plenty of options to choose from – or skip entirely.

Amazon, for instance, last month launched an October version of its Prime Days. Competitors like Walmart and Target responded with deal weeks of their own.

The idea behind those promotions is to get consumers to spend early, with the thinking that an early sale locks in purchases before shoppers start to scrutinize their budgets and figure out what else they can afford to buy.

As shoppers become more mindful of their budgets, they’ll be weighing the value of each deal against their financial priorities, setting the stage for a holiday season that could look a little more restrained than retailers hoped.

The National Retail Federation forecasts holiday sales growth between 2.5% to 3.5% year over year.

“We’ve all seen that consumers have become a bit more moderated in their spending patterns, a bit more cautious,” said Matthew R. Shay, president and CEO of the retail group.

Stores have staked out their holiday go-to-market strategies, and savvy shoppers have begun staking out their shopping strategies, too.

So how do retailers plan to get cash-strapped consumers into their stores? The bottom line this year is value – and every retailer is trying to convince shoppers its stores have the best bang for the buck.

Stores are also sponsoring brand partnerships – from Pinterest to Drew Barrymore – to drum up excitement, relying on curated gift assortments and playing up the nostalgia to tug on consumers’ heartstrings.

With price-conscious shoppers in mind, Walmart is introducing deals earlier, making them available longer and focusing on a consistent low pricing strategy.

Of the 66 toys on its top toy list, 25 of them are priced under $25, including Lego, Nerf and Melissa & Doug. It has some home and fashion deals priced at $5, as well as consistent low pricing on clothing, home goods, electronics and holiday decor, including brand partnerships with celebrities such as Barrymore and Sofia Vergara.

The retail chain has also launched a series of holiday commercials focusing on pop culture moments – everything from “Gilmore Girls” to “National Lampoon’s Christmas Vacation” – designed to make shoppers feel warm and fuzzy.

“We know many of our customers are beginning to prepare for their holiday celebrations early, and we’ve adapted our approach to best meet their needs,” said Latriece Watkins, executive vice president and chief merchandising officer at Walmart U.S. “We’re thrilled to give customers more of what they want this holiday – more time to prepare and more opportunities to save all season long.”

Target’s plan to bring back shoppers is to lower prices on more than 2,000 items across the store, from food and toilet paper to beauty and gifts. More than half of the big-box retailer’s Top Toys picks come in at under $20.

It’s one of several chains that perhaps realized it went too far with its price increases during the height of inflation, and decided to make some adjustments when shoppers cut back. The store said it routinely adjusts prices to stay competitive.

Target first cut prices in May, announcing it would lower prices on 5,000 items for summer shoppers, but exceeded that goal and lowered prices on 8,000 items, it said.

“From meal prep and gifting to everyday needs, Target’s offering the kind of exceptional value that’ll make it even easier for everyone to save money,” said Rick Gomez, Target’s executive vice president and chief commercial officer.

Kohl’s is focusing on value, too. The retailer will introduce new deals every week throughout November and December to keep shoppers excited and checking back for more.

This year, it’s introducing Kohl’s Value Gift Shop, which features gifts and stocking stuffers at everyday low prices, with the majority of gifts under $5 and hundreds of gifts under $10. The store will have twice as many Sephora at Kohl’s gift sets available as last year, jewelry under $25, thousands of gifts under $20 and toys starting at $6.

Kohl’s has teamed up with Pinterest to provide Kohl’s-branded content and lots of interactive digital offerings such as lookbooks and a gifting quiz.

In early November, and on Black Friday week through Cyber Monday, Kohl’s will bring back its popular $15 for $50 Kohl’s Cash earnings promotions.

Best Buy is banking on big TVs to bring in customers this holiday season.

The electronics chain has put televisions sized 97 inches and larger on display at stores in preparation for holiday shopping. It says it has doubled its assortment of “XXL TVs,” and brought in dedicated home theater experts to help sell them.

“We’re seeing growing interest from shoppers in XXL TVs, especially as the technology gets better and more options are available at a variety of prices,” said Blake Hampton, senior vice president of merchandising at Best Buy. “The addition of XXL TVs to our stores provides our customers with an experience they won’t find anywhere else.”

The company has already run a “Prep for the Holidays Event,” and is kicking off Black Friday deals on Nov. 8, when it will also start unveiling tech deals every Friday. It’s official Black Friday doorbuster sales will begin Nov. 21, again on Nov. 22 and on Black Friday. Its Cyber Monday sale begins Dec. 1, with savings up to 50% off.

JCPenney, which has struggled for years but remains a favorite on Black Friday, is targeting cash-strapped consumers with things like its “Really Big Deals” promotion, nostalgic merchandise and “Gotta Have It” pricing all season long.

“We have made great progress on our reinvestment plans to enhance the in-store and online shopping experience, our assortment and inventory management and our continued commitment to offering great rewards and value,” said Marc Rosen, JCPenney’s president and chief executive officer. “Everything we have worked toward is coming together at the right time.”

The retailer is bringing back its iconic JCPenney Snow Globe giveaway, which has brought hundreds of customers flocking to its stores in the wee hours of Black Friday in years past. It’s the first time the free miniature has been offered at the store in nearly a decade, and will only be available at JCPenney stores starting at 5 a.m. on Black Friday while supplies last.

The department store chain is reviving a partnership with Martha Stewart to bring back the Martha Stewart Holiday Collection, featuring bedding, bath essentials, kitchen and dinnerware. The nostalgia continues with a line of retro merchandise, from games to s’mores makers.

Penney’s will drop early Black Friday deals Nov. 8 through Nov. 10, then launch thousands of deals from Nov. 22 to Dec. 1, including up to 75% off fine jewelry, 50% off Disney toys and apparel, and clothing at up to 60% off and boots for $19.99.

On Black Friday, there will be one-day-only deals and in-store giveaways at 5 a.m., 9 a.m., 1 p.m. and 5 p.m., including a “Golden Tote” that will offer savings throughout the holiday season.

Fans who watch football on Prime Video now through Dec. 26 can watch for exclusive promotions and offers with a new “Really Big Deal” each game day.