Last Monday, Target announced the start of its Black Friday deals. That’s almost seven weeks before Thanksgiving and earlier than last year by a full 21 days.

According to a statement from the Minneapolis-based retailer, significant price reductions will start this week and last through the Thanksgiving holiday. A rotating series of one-day promotions on particular products are also being held; this offer will continue through December 24.

The first-week deals include price reductions on goods shops frequently offer for Black Friday, like big-screen TVs, kitchen appliances, digital products, and toys.   Target is using the chance to highlight its growing partnerships with renowned toy brand FAO Schwarz and other game and toy companies.

Target’s executive vice president and chief growth officer, Christina Hennington, stated in a news release that the company is “here to help” as its aware that its customers are excited to begin their holiday shopping.

Early Black Friday Deals mean taking a head-start on the competition

Target might be keener to start the year’s final quarter sooner than any consumer. A three-day Deal Days promotion from October 6 to 8 has now ended. It is now only a prelude to Target’s primary campaign. Other retailers are also stepping up their holiday sales promos.

“The holiday creep is real, according to Barron. He notes that as recently as 2019, Target started its holiday sales on November 8, while Amazon.com Inc. started theirs on November 1 and Walmart Inc. on October 25. All three retailers now seem to have switched to early October.

The reason is not particularly mysterious: For retailers, the fourth quarter is often disproportionately significant, so having a head start on the competition might be critical. For instance, few individuals genuinely require multiple big-screen TVs at once.

Early Black Friday deals to meet altered holiday shopping habits

Due to the faltering economy, customers may be more frugal this year, resulting in a more challenging competition. According to Reuters, Deloitte’s annual retail estimate expects Christmas sales to increase by 4% to 6% this year, up from a 15% gain between 2020 and 2021.

Inflation is driving customers to start shopping earlier in 2022, and retailers like Target have adjusted to meet these changes by offering early holiday deals.

Inflation in 2022 and its effect on retail holiday business

With inflation near 40-year highs, Ted Rossman, senior industry analyst for Bankrate.com, predicts that holiday shopping will be different this year. Consumers are still making purchases, but they are paying close attention to where their money is going.

Around 84% of Bankrate’s survey participants claimed they are cutting the cost of their holiday shopping by using coupons and discounts and purchasing fewer products.

Major retailers like Walmart and Target are lamenting that they have excess inventory in several areas and will have to increase their discounts. Though unfavorable for stores’ profit margins, that’s especially exciting for customers.

This extra inventory accumulated partly due to things arriving out of cycle, such as summer clothing that arrived too late, and because some businesses placed excessive orders since they were unsure of what would come and when. Last but not least, demand has decreased.

That has been particularly true for tangible items as people have increased spending on services like travel, dining, and event tickets as their COVID anxieties have subsided. Due to the epidemic, which made most people spend more time at home, demand for various products, including electronics and furniture, was pushed into the years 2020 and 2021. We are currently witnessing that phenomenon from the other side.

These days, inflation, which has been increasing at its fastest rate since the early 1980s, is a big issue. According to a Bankrate survey, two of every five holiday consumers are altering their habits due to inflation. The most typical examples are looking for discounts and making smaller purchases. It makes sense because there is less money available for other things.