Holiday Shopping Trends for 2020
This year’s shopping trends for the holiday season will affect your business, your customers and your sales slot online. Here are the trends to look out for in 2020:
1. Online shopping
Naturally, the biggest shopping trend this year will be high volumes of online shoppers. With many consumers wary of exposure to the coronavirus and states requiring retailers to close their doors to in-person shoppers or significantly reduce their in-store capacity, you can expect to see a surge in online traffic during the holiday season.
“People have had time to get comfortable online during the pandemic and have had time to find online stores they really like,” said James Boatwright, CEO of Code Galaxy.
A study from Qubit found that two-thirds of respondents said they expect personalized experiences from brands they’ve shopped with before. Those experiences could include targeted advertisements, a personal concierge or suggestions based on their previous purchases.
A personalized e-commerce experience can help you retain existing customers and attract new ones, as well as increase your sales by making your customers feel valued and seen.
3. A focus on health and safety
Most stores that are planning on allowing in-store shopping this season will be focusing on providing a safe and healthy experience for all involved. This year, it’s imperative that you follow all state and federal safety guidelines and make sure that your customers are aware of the rules and the measures you are taking to keep them safe. This will go a long way in encouraging customers to visit your business and making them feel cared for. The National Retail Federation lists COVID-19 retail restrictions for each state on its website and updates the page daily.
4. Consumers with tighter budgets
The pandemic has greatly affected consumer spending across all income levels. According to Morning Consult, most consumers reported that they plan to reduce their holiday spending more this year than in years past, and 1 in 5 consumers said they are worried about finances this holiday season. Businesses should expect to see more consumers looking for deals and promotions and purchase smaller volumes of gifts (i.e., one or two gifts per family member instead of three or four).