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Retail Trends for the 2020 Holiday Season

Consumer Trends to Expect During The 2020 Holidays

Monday Morning Rocketfuel

🚀When any business is getting ready for the holiday season, it can often be super helpful to look at trends from the previous year. With 2020 being the year that it’s been, it might be helpful to look at a mix of trends from last year and talking directly to what customers are looking for this year!

We’ve pulled together some interesting points to help give you the need to know info at an easy glance!

Ecommerce Will Be Big – Again

When it comes to data, looking at customer behavior from last year shows a pretty large trend towards shopping online! On Cyber Monday 2019, spending reached $9.4 billion! And shoppers in the US spent $138.65 billion while shopping online in 2019 as well.

From 2019’s information, we can see that ecommerce was a huge part of the shopping trends. And for the 2020 holiday season, this is definitely one trend that retailers are looking towards. In a study put together by Criteo, they found that 88% of US shoppers were planning on continuing to purchase online.

Though Criteo predicts that more people will be willing to shop in-store by the time the holiday season is fully here, ecommerce will still play a key role for the 2020 holiday season!

Expect Shipping Delays

With online shopping and digital orders becoming more prevalent this year, packages might face delays in shipping! According to a prediction from SalesForce, a possible number of 700 million packages might be at risk of not arriving on time this year.

This is due to the often overwhelming surge of orders that different shipping providers will face. With supply chains under pressure and shipping capacities being hit, keeping shipping delays in mind throughout the holiday season can help you and your business get ready for potential customer queries regarding delayed packages, orders not arriving on time, and other issues.

Longer Shopping Season This Year

By the time this edition of Rocketfuel is up, the longer shopping season will be well underway! Reports made by the US Commercial Real Estate Services (CBRE) have many large retailers like Best Buy, Walmart, and Target all modifying Black Friday promotions. Some businesses are moving promotions around so they carry on throughout both November and December.

Customers are going to be shopping earlier this year, if they do go in person, to avoid larger crowds, shipping costs, and potential product stocking issues. These can be important to keep in mind as we get further into the holiday season!

When it comes to the holiday season, it can be helpful to know at least some of the basics to expect when it comes to consumer trends! With holidays undoubtedly going to be celebrated differently by many this year, understanding what customers are looking for and how they might spend their time shopping this year can help you to pivot your business as needed.

Challenge

Create a list of different changes you might expect to see in your specific consumer base.

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Escape Plan Marketing
Paige Lyman
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