Holiday Shopping 2020: How Shoppers Are Planning To Spend This Time

by | Jan 21, 2021 | Tips | 0 comments

    Big sales, big masses, and bedazzling products altogether make the holiday season feast to our eyes. The joy of Thanksgiving, Christmas, and New Year isn’t just confined to retailers but also extends to shoppers who relish the dazzles of festive items offered on sale. 

    Unlike other bygone years, 2020 seems to have everything different in its store for both shoppers and sellers. The spilled-over of COVID-19 is going to revamp the way folks used to celebrate and shop during the winter holidays. Looking at the bright side, most of the consumer surveys have proposed that there will not be a substantial change in the amount one used to spend on purchasing festive souvenirs. This is because of the presence of myriads of E-commerce stores in the United States that are offering massive discounts to satisfy the shoppers.

    Even though the enthusiasm among people to shop for holidays did not fade away, modifications in the consumer preferences are still practicable. Thus, to help E-commerce merchants experience the most from the holiday season, here we will take a deeper dive into a change in shoppers’ behavior.

    Mobile and Social Commerce Are In Preference

    With a large number of people stuck at home, the usability of mobile devices for online shopping has been intensified. Besides, the fact that 44% of people are reluctant to shop in person during the winter season as chances of getting infected are high, results in an extreme preference for online stores. This is a key advantage for E-commerce stores to expand their sales to the horizon by ensuring prolific digital strategies and capabilities. 

     

    • Shopping Will Kick-Off Early

    Generally, Black Friday, the Friday after immediate Thanksgiving is the time when retailers start beating the drum for holiday sales. However, as per Digital Commerce 360,  42% of shoppers won’t wait to grab Black Friday or Cyber Monday’s deals but will start shopping in October. The major reasons behind the event of early shopping are smaller budgets, delayed Amazon Prime Day, and the concerns about supply chain disruptions in the mind of customers. This also serves as the solution for people who do not yearn to experience delays in delivery. 

     

    • Shoppers Are Eyeing On Best Discounts And Deals

    The pandemic failed to lessen the enthusiasm of people for celebrating the holiday season in full swing. However, to maintain a financial balance while relishing all the festive fun, buyers are mostly favoring the stores with better deals and discounts. Probably, that is why Amazon and Best Buy are stealing all attention in 2020 as they announce monumental cut prices on the items like electronics, fashion, fitness, home decor, and other technical appliances.

     

    • Unique and Non-Traditional Gifts Are In Wishlist

    2020 isn’t a year where people can surprise their loved ones with a gift of adventures like traveling or concert tickets. Instead, the long stay at home transformed the way people like to spend their daily routine. All this head towards people craze for more practical gifts that can let one cherish convenience at home. Items lying under the category of fun and entertainment like video games or gaming consoles are also taking the market by storm. On the other hand, the ones which are associated with spirituality or luxury are unpopular in the current time.

     

    • WFH Related Purchases Elevates

    The shoot-up in remote working has entirely altered the needs and wants of shoppers. Where earlier one used to shop for fashionable products for stylish social life, the new quarantine lifestyle urges them to buy the items that support their WFH schedule. These include accessories like laptop stands, multi-purpose laptop tables, and etc. The sale of technical gadgets, that is laptops, smartphones, and tablets also witnessed a sudden hike this year.

     

    • Not All Shoppers Will Spend Same As In Previous Years

    Even though it is transparent from most of the studies that there will not be any drastic change in the consumer’s spending, the matter of the financial crisis will still have its impact on holiday season profits. 39% of US holiday shoppers have already revealed that they aren’t going to spend more on gifts this festive season. Summing up both the arguments, it would not be wrong to state that spending by holiday shoppers will be uneven in 2020 but will definitely not experience the considerable nosedive.

     

    How Can E-commerce Retailers Brace-Up For Profitable Holiday Season?

     

    Holiday Shopping

    Indeed, Holiday season 2020 is a new ball game for both sellers and buyers. But since consumers are still eager to celebrate winter feast days, retailers can turn this into an opportunity by being strategic and unique among the crowd. Here’s how businesses can reap maximum benefits at the end of the year.

     

    • Interpreting Consumer Changed Needs and Preferences

    The long stay at home and avoidance of socialization ended up in the transformation of customer’s behavior. By evaluating their current needs and preferences, online stores can prepare strategies that fetch all eyes within no time. It is suggested to store unique, non-conventional, and supporting home accessories this holiday season to hit the jackpot.

     

    • Making Social Media Marketing More Splendid

    As it is a logical proposition that mobile and social commerce are on the priority list of people when it comes to shopping, improvising the strategies in link to social media will be helpful. Besides, one can reach the maximum audience by executing the appropriate and professional messaging strategy.

     

    • Making Bespoke Service As Focus Of Attraction

    Another consideration that can help to have the best of the holiday season is providing bespoke products and services. Most shopping enthusiasts like to opt for a store that offers a customized experience from start to end. In addition, focusing on the aspect of personalization can also let a business gain a competitive edge and the benefit of having loyal customers.

     

    • Ensuring Better Customer Experience On Your Site

    Better the customer experience, the better will be the brand image. To boost your name in the global market, it is dire to execute every aspect of your digital business strategically so that buyers can have the best site experience. Other than concentrating on the quality of products, retailers also need to ensure timely shipping and prevention of supply chain disruption, which is the biggest nightmare among shoppers these days. 

     

    Key Takeaways

     

    Holiday season 2020 is no doubt a mix of enthusiasm and concern for the shoppers. Though they are excited to celebrate feast days with amazing souvenirs, the matter of the financial crisis lets them scratch their heads before they even shop. The change in consumers’ method of spending is the significant reason that makes E-commerce stores unsure about the expanse of profit they are going to enjoy this year.

    But no matter what, it forms the ultimate responsibility of retailers to offer everything finest to the potential customers. After all, it is the preciseness and exclusiveness of marketing strategies that can help businesses rise to the occasion.