The shopping holidays season is around the corner, or is it? Every year, shoppers from across the globe wait for the holiday season to get the best deals on their favorite products.
But this year, it's different. As COVID-19 has changed the way we shop, this holiday season is set to bring some changes in shopping. But no matter the changes, there’s a lot to take away for both shoppers and retailers.
From increased discounts to the closedown of offline stores, here are the ten best things to expect during the holiday shopping season in 2020.
1. Extended Holiday Season
In general, the holiday shopping season commences after Halloween. But several retailers began offering holiday season-like incentives from October. Many retailers are following this trend to provide customers with more time to do their holiday online shopping safely.
In fact, a lot of retailers have started offering Black Friday-like benefits from October-November. Therefore, you don't really need to wait for Christmas or Thanksgiving to get the best deals.
2. Offline Stores to Close Their Doors
For years, Thanksgiving has been one of the biggest shopping festivals in the US and across the globe. But this year – due to the COVID-19 pandemic – many offline retailers like Walmart and Kohl's have decided to stay closed on shopping holidays to reduce massive crowd gathering.
This gives an opportunity for online retailers to make the most out of the Thanksgiving sale. Since offline stores will remain closed, consumers will seek holiday online shopping to fulfill their shopping needs.
3. Reduced Consumer Spending
This pandemic has been difficult for everyone, not only healthwise but also moneywise. Many consumers have lost their jobs, and those who haven't, are working on salary deductions. In all, the spending power of the customers has reduced.
This means there will be a decrease in customer spending during this holiday season. Holiday season shopping statistics suggested that the average holiday spending per person could decrease from $627 in 2019 to $515 in 2020. Several other studies have also suggested that overall spending this year could surge by up to 50%.
But what this also means is that vendors will offer massive discounts to encourage customers to make a purchase. Therefore, customers can expect to get some exciting online shopping deals during this holiday shopping season.
4. Online Shopping Will Overtake Offline Shopping
Even after a significant surge in online shopping, offline shopping remained to be the go-to mode for customers during the festive season. This year, this trend is going to change. As discussed, people are shifting to online shopping due to COVID-19 pandemic. Also, many offline retailers have announced that they'll remain closed.
This offers a massive opportunity for online vendors. Ecommerce stores can create robust marketing strategies and customer acquisition plans to give them a head start before the actual holiday shopping season starts.
5. Reduced Relevance of Black Friday
If you're a Black Friday shopper, there's some news. Since many retailers are already offering Black Friday-like discounts, you don't need to wait till Black Friday. In fact, 41% of consumers aren't planning to shop on this Black Friday, stated the report by KPMG.
You, as a customer, can consider this as both negative as well as positive. On the downside, you won't be able to get the same Black Friday shopping experience as before. But on the upside, you don't need to wait for the Black Friday sale as many retailers are already offering similar advantages.
6. Shopping By Appointment
If you're a brick and mortar store, you can capitalize upon the new "shopping by appointment trend. If you have a social media page or website, you can ask your customers to take appointments and assign them specific time slots to shop. This way, you will provide your customers with an in-store shopping experience along with alleviating the risk of the spread.
Stores that don't have a digital presence in the form of a social media page or website can make appointments via phone. Just hang a banner at your storefront with the phone number and the necessary instructions.
7. Shipping Delays
Several studies have suggested that fast delivery is one of the key factors that impact customers' buying decisions. But in this festive season, you might experience some shipping delays. These are hard times for eCommerce vendors as well. And though they're trying to offer the best service, the current circumstances are restricting. Hence, it may take more than usual time for your orders to be fulfilled and delivered. Moreover, some retailers may also charge an extra delivery fee, given the current circumstances.
8. Online Shopping Rewards
Online shopping stores will be providing exciting rewards for shopping to attract more customers. These rewards could be in the form of cashback, gift cards, or upfront discounts. Many retailers would be willing to waiver delivery charges if your cart amount reaches a certain threshold.
9. Credit Card and Wallet Rewards
At the same time, customers should keep an eye on their credit card companies and mobile wallets. Since digital payments are on the rise, more people will shop from credit cards and wallets.
This gives an opportunity to wallets and credit card companies. Many of these providers will offer cashback and discounts on shopping from their cards and platforms. Customers should watch out for the offers to get the most benefits.
10. Social Media Shopping
Social media isn't the place that it used to be. Now, it has become a platform for brands and customers. Retailers are readily utilizing social media to get in touch with their customers and promoting their products. Customers are also engaging with brands on social media. This festive season, many retailers will use social media as their primary channel to sell their products.
Conclusion
In all, there won't be a holiday season like it used to be before. Though the times could be a bit difficult for retailers, the opportunities and benefits of shoppers are endless. As a customer, you can expect exciting deals and massive discounts during this season. And customers like to shop online for fashion items during this season.
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