Research from Pattern reveals some good news for last-minute shoppers, as some gifts will be cheaper during the week before Christmas, also called Panic Week. However, shoppers buying gifts for women last minute tend to be the ones paying the highest prices, as most traditional gifts for women increase in price over the course of December.
During Panic Week, gifts for women showed the highest percentage increase compared to the other categories analysed, up by 5% compared to the 2022 average. In comparison, gifts for men are down by 1%, and electronics are down by 8%, while home and kitchen items are up by 3%. Those still having to buy toys don’t need to worry, as prices for popular children’s gifts remain stable throughout December.
Looking at price developments throughout December, it becomes clear that shoppers for women’s gifts are advised to act as soon as possible. At the start of December, traditional women’s gifts, such as women’s gloves, fluffy socks or hair straighteners, tend to mirror the overall annual price average, before increasing steadily week by week until Christmas. Those still on the hunt for a more traditional men’s gift, such as men’s gloves, electric razors or slippers, might want to wait a little longer, as prices go down over the course of December, leading to a drop during Panic Week. Electronics see the biggest price drops in December, with Panic Week being the best time to buy some headphones or a Kindle.
Panic Week price changes
Some specific items are seeing steep price increases, compared to the annual average price. For shoppers purchasing gifts for women during panic week, here are the most expensive items and those where you might find savings:
- Fluffy socks (+31%)
- Thermal gloves (+30%)
- Scarfs (+18%).
- Hair straighteners (-7%)
- Hair dryers (-5%
- Mascara (-3%)
Shoppers purchasing for men will find:
- Electric shavers (-14%)
- Slippers (-9%)
- Gloves (+9%)
- Aftershave (+8%)
For those looking to tick electrical items off their gift lists:
- Vacuum robots (–27%)
- Noise cancelling headphones (-5%)
- Smart watches (+5%)
- Projectors (+8)
And for home and kitchen:
- Air fryers (+8%)
- Heated blankets (+34%)
- Stanley Cup (-10%)
- Waffle makers (-2%)
To identify the pricing trends and data, Pattern looked at the most popular gifted and wished for items on Amazon and analysed the pricing developments and trends throughout December 2022, and the week in the run-up to Christmas – often called Panic Week, as it’s the last chance to order gifts in time for Christmas.
Clearly some last-minute shoppers might have a slight disadvantage for leaving their Christmas shopping to the eleventh-hour. It’s interesting that we’re seeing the biggest price increase in the category of women’s gifts, while almost all other categories remain stable and even decrease until just after Panic Week.
– Neal Fairfield, Director of Consultancy, Europe, Pattern
