Holiday Shopping Trends 2020 Amidst The Pandemic
Summer is at its last leg and before long , we will be in the big fat holiday season and the biggest shopping bonanza of the year. However, this year, everything is a bit different as people find themselves mired in the pandemic challenge. Irrespective of the uncertain times, it is a perfect time of year when retailers start to think about their optimistic holiday plans and promotions.
Back to school shopping
in 2019 back-to-school sales had hit around $80.7 billion. However, during this year it is unclear when students will physically return to school. So the back to school shopping for everything from basic school supplies to dorm room items and wellness supplies may be put on hold if the dates are widely postponed.
The holiday season
This year it is unclear how the 5-day holiday shopping season from Thanksgiving through Cyber Monday that extends till New Year will turn out for retailers. Last holiday season, the U.S. shoppers had spent $138.65 billion, which was 13.6% more than 2018. Random surveys expect mixed results in the holiday sales this year.
Type of customers expected
Though it is difficult to predict the type of customers that make the holiday crowd, financial situation will be the decisive factor this year. Families that have jobs and are in a stable financial position, are likely to shop as usual and could even be aggressive in their spending patterns to make up for what they missed all these days!
Retailers may come up with irresistible deals and offers and may start holiday promotions early to ensure maximum sales. Holiday gift-givers may come out ready for a big purchase alright. Another interesting segment among shoppers to watch is the replenishment shoppers who may be looking for deals to stock up for the months ahead in the wake of the pandemic uncertainty.
Adequate stock availability
Product availability has been hampered seriously during the pandemic and 47% of online shoppers experienced both out-of-stocks and shipping delays. Retailers may have to strive to ensure timely delivery to woo more customers and keep them happy during the holiday season. Retailers may concentrate more on faster delivery, quicker check out , better product images and easy access to coupons for the shoppers etc
Product promotion will tilt the scales of holiday season sales
Average shopper will be looking for the biggest deals and price cuts in the event of cash constraint and pandemic situation . Surveys show that 42% of shoppers may purchase from the website with the lowest cost. Price will be the key and the other shopping trends this season suggest that most people concentrate on a few of their favorite retailers, look for the best deals or free shipping offers.
curbside pickup
Curbside pickup will have a key role in meeting the expectations among shoppers. More retailers may be adopting this omnichannel during the holiday season this year to ensure a safe shopping experience for the customers and maintain social distancing norms.
As the holidays get closer, the trends may change slightly. It will be interesting to see how retailers try to capture the attention of the holiday crowd, stock up shelves and ensure timely delivery.
