Amid a sluggish holiday-season outlook for retailers – thanks to the likes of rising credit card debt and dwindling, post-pandemic savings, competition is intensified for shoppers who are looking to spend. Reflecting this, big retailers initiated their holiday-season discounts as early as October – well ahead of the traditional, day-after-Thanksgiving start to holiday shopping known as Black Friday.

Even as the price of food continues to tick up and people are spending more on groceries, nearly 40% of food in the United States is being wasted – mostly by shoppers who never consume what they bought and by retailers who don’t manage to sell it.

Retailers are constantly trying to figure out not just how to sell their current inventory, but also what to offer to consumers for the next season. Thanks to new research from a University of Maryland marketing professor, predicting what consumers want could get easier.

Continuing a trend that has been building for the past several years, retailers started their Black Friday holiday promotions well before the traditional post-Thanksgiving shopping day this year.

Retailers have been working to reduce inventory to make room for holiday season items. Mishaps in planning dating back to last year are haunting them with excess stock of unwanted products, prompting tactics such as price-cutting, order cancellations and pack and hold.

It’s been about five years since Toys R Us filed for Chapter 11 bankruptcy protection and began liquidating its 700-plus big box stores in the United States. But a return to brick and mortar is under way – inside more than 400 Macy’s stores. Spaces, from 1,000 to 10,000 square feet, are combining merchandise and interactive experiences.

Target missed the mark when calculating this season’s inventory and now the retailer is scrambling to liquidate extra items. The company is slashing prices to move items like patio furniture and household appliances to free up space on shelves and in warehouses. But how’d they get it so wrong?

Do you shop differently now than you did a few years ago? If so, you’re not alone, says Maryland Smith’s Jie Zhang.

With the COVID-19 pandemic, retailers have innovated and tweaked the shopping experience to meet the demands of the moment and keep consumers safe. But even as the pandemic begins to subside, don’t be surprised if some of those changes stick around for good.

Not to stress you out, but if you haven’t started your holiday shopping yet, you’re way behind. Thanks to manufacturing holdups, shipping delays and labor shortages throughout the supply chain, it’s going to take longer – and cost more – for retailers and consumers to get the items they want this year. The best way to tackle this year’s Christmas list is to shop as early as possible, and with an open mind and an open wallet, say Maryland Smith experts.