No doubt that this year's holiday shopping will be different from other past holidays because of the impact of the Covid-19 pandemic. In-store shopping is likely to see a sharp decline as more and more people are preferring to shop online. A recent report revealed that about 44% of consumers aren't comfortable shopping in-person until they are sure the pandemic is under control. The same report indicates that another 25% will go shopping in person once the vaccine is available.
Going by the above numbers and the Deloitte prediction of 25% to 35% growth in eCommerce sales this holiday, no doubt retailers should expect more traffic to their websites. This further means, retailers must be ready to meet customers' expectations for a more personalized experience.
That said, let's take a look at some of the biggest 2020 U.S. trends and see how you can prepare your business for success during the holiday shopping season.
Social and mobile will gain popularity
With the virus keeping most people indoors, social commerce now plays a significant role in converting holiday purchasers in every purchase funnel stage.
A recent study revealed that 37% of U.S. adults prefer mobile app shopping compared to last year. Further, another 22% are more interested in social commerce.
With that, it is no secret that you need to offer optimal customer experience on social commerce and mobile.
Since the pandemic was announced, consumers' behaviors have continued to shift every day. Klarna's study shares some insights on how consumers' lifestyles have changed since then. Understanding your consumers' behaviors will help you know what they are likely to buy this holiday. And one of the best ways to understand their lifestyle is to garner and analyze feedback.
More consumers are expecting personalized experiences from the brands they have shopped with before. That means, to retain current customers and attract new ones, you must look for ways to personalize your consumers' experience. These experiences could include suggestions based on past purchases, targeted advertisements, etc.
The pandemic has left many consumers with tighter wallets, and this will see most of them reduce their holiday spending this year. As a result, consumers will be looking for businesses with great deals, promotions, and those allowing the purchase of smaller gifts. Try to adjust to this so you can attract shoppers from all walks of life this holiday season.
Tight, digital Ad space
Just look at the digital ad space, and you will realize how every brand is struggling to get in front of consumers. The earlier you let consumers know you have a digital footprint, the better. You don't have to rush the last minutes. Start now!
Brands will have to satisfy consumers' demand
With an increase in holiday shopping, retailers and warehouse managers must be ready to deal with issues like:
- Where is my order?
- How to get an offer?
- When will it be shipped?
- When will it arrive?
- Is there a promo code?
Remember, every customer expects an answer, and in the format they prefer. Are you ready for this? How you will handle your customers will either break or strengthen your relationships. So be careful! Chatbots and automated messaging are some tools we recommend give retailers and shippers to utilize this holiday to meet consumers' expectations.
Cloud solutions, the best bet now!
There is no better time. E-commerce fulfillment is reaping benefits from the various cloud solutions on the market than now. These solutions are designed to handle the sophisticated work of eCommerce platforms to function more seamlessly. They help in areas such as payment processing, cataloging, tracking, etc.
Why then stress up your team this holiday while these cloud solutions can help? Besides, compared to the benefits they offer, the price you pay to use is insignificant.
No one anticipated this holiday shopping would be as it is. Its present challenges as well as opportunities that e-commerce can leverage. Planning in advance gives you an edge and, importantly, allows you to remain on top of the game.
Are you looking to win more online shoppers this holiday and beyond? The above trends will help you prepare for your success. Contact us for more info.