This holiday season, you can save money by shopping slowly. Here's how it works.

• By adopting a more mindful approach to shopping, you can prevent impulsive purchases and accumulating debt during the holiday season.
• A recent report revealed that 73% of consumers plan to "slow shop" this year.

Impulse spending has a cure.

Consumer savings expert Andrea Woroch claims that "slow shopping" encourages mindful buying decisions by emphasizing the importance of taking time to consider each purchase.

She advised adopting this shopping trend to avoid impulsive purchases and debt.

'Slow shopping' can help you save

"Allowing yourself time to reflect on your emotions and reassess your needs without the pressure of making a quick decision can lead to more rational buying choices, which may involve avoiding impulsive purchases."

Waiting can be beneficial when shopping, as it enables you to purchase items at the lowest price during sales, according to Woroch.

An extension like CamelCamelCamel or Keepa can assist you in monitoring price fluctuations and notifying you when prices decrease.

Slow shopping also allows for more time to save up for big-ticket items.

73% of shoppers are 'slow shopping'

Many consumers are turning to slow shopping as a way to break their spur-of-the-moment buying habits, which experts consider a weakness.

According to a survey of 2,000 adults by Affirm, nearly three-quarters or 73% of consumers have adopted this approach for the holiday shopping season.

According to Affirm, roughly 60% of shoppers are starting their shopping earlier and being mindful about their purchases, while about half of shoppers are using slow shopping to take advantage of more deals and promotions.

Vishal Kapoor, senior vice president of product at Affirm, stated that while consumers typically begin their holiday shopping earlier each year, this season they are taking a more leisurely approach.

Last year's holiday debt is still being paid off by 28% of credit card users.

In 2024, the credit card debt will be even higher, reaching $1.14 trillion.

According to the National Retail Federation, it is predicted that spending will rise from $979.5 billion to $989 billion between November 1st and December 31st this year.

On average, shoppers spent $1,778 during the holidays, an 8% increase compared to the previous year, according to Deloitte's holiday retail survey.

According to a report by NerdWallet, 28% of shoppers who used credit cards to purchase presents last year have not yet paid off their purchases.

Over the holidays, there is often the urge to overspend, said Rod Griffin, senior director of consumer education and advocacy for Experian.

"Red sales signs increase temptation to buy," he stated.

A recent survey by Bankrate found that more than half of adults, or 54%, made at least one impulse purchase during the last holiday season.

A majority of consumers who made unplanned purchases during the last holiday season did so because they thought the item was a good deal or it was on sale, according to Bankrate. Additionally, social media played a role in influencing these purchases.

Over the holiday season, one-third of shoppers plan to spend less than they did the previous year, according to a Bankrate poll of more than 2,400 adults conducted between September and October.

The best ways to save over the holidays

Experian's Griffin emphasized the importance of having a plan to manage holiday spending effectively.

"To avoid impulse buying while holiday shopping, make a list and check it twice, he advised."

Saving money for a holiday fund can give you more financial freedom to spend without overspending or accruing expensive credit card debt, according to Ted Rossman, senior industry analyst at Bankrate.

Starting earlier is another important way to save money, other experts say.

"The shorter holiday season in November due to Black Friday and Cyber Monday falling later will force retailers to be more promotional," said Adam Davis, managing director at Wells Fargo Retail Finance.

Signing up for a store e-newsletter and mobile alerts can provide access to early deals and discounts or, at least, free shipping, as advised by Davis.