The holiday shopping season is kicking into high gear and, without a doubt, this year’s shopping experience is bound to be different. Due to the COVID-19 pandemic, many shoppers are doing their holiday shopping online, and that means even more niche e-commerce opportunities will surface. According to recent research from the NRF, 42% of consumers began their holiday shopping early this year. So how is your brand preparing for the basics–holidays and spending events?
- Green Monday, December 14
- Free Shipping Day, December 15
- Hanukkah, December 10–18
- Christmas Eve and Day, December 24–25
- Boxing Day, December 26
- New Year’s Eve, December 31
“E-commerce is better off because stores are closing and people are at home playing on the internet.”Stuart Rose, a partner at investment bank Mirus Capital Advisers
While there is no doubt this has been an unprecedented year, and the traditional shopping experience will likely be altered by the restrictions imposed to preserve public health, 71% of consumers have stated they will not change their Holiday shopping spending and plan to do at least half of their shopping through digital channels, which means retailers should prepare to deal with similar order volumes as last year.
Here’s what we know so far to expect from this year’s shopping season:
- U.S. online sales for the months of November and December 2020 will reach $189 billion.
- CBRE Retail Research forecasts 2020 holiday e-commerce sales to grow by at least 40%
- 46% of shoppers will buy most of their holiday purchases online, and 77% intend to buy more than half of total purchases online.
- 71% of US adults said they planned to do more than half of their holiday shopping digitally this year.
- A 40% growth in online sales will put e-commerce’s share of total retail sales in November and December at 39%.
- According to the PowerReviews Holiday Consumer Survey, 64% of consumers say they will spend more online than last year.
- According to Deloitte, shoppers anticipate spending an average of $1,387 per household during the holiday season.
- A Deloitte survey shows that 60% of people prefer shopping online rather than in physical stores during the holiday season.
- The same survey found that 53% of shoppers prefer to shop online because they can compare prices.
- App Annie predicts there will be nearly 1 billion hours spent on Android devices in the U.S. during the holiday season, up 50% YoY.
- 57% of consumers use search engines when they don’t have a particular brand in mind.
Businesses have a golden opportunity to capitalize on conversions and increase their revenue if they take the right actions to convince an eager pool of shoppers to choose them from the thousands of deals showing up on the web. Interested in checking out some ideas to up your sales game this season? Keep reading.
Have a strong digital presence
This year, more than ever, shoppers will be looking online for the products or goods they need, and many of them said they would do it at local small businesses. Make yourself available to those potential customers by having your online presence updated and running smoothly. Set up your Google My Business profile, verify your business information, and share important information with your customers about the services you offer, whether you have delivery, pick-up, or curbside options.
Is your brand new to the online shopping experience?
It is not too late to lay down a strategy that includes buying an EBM (exact brand match) domain, setting up a website that establishes your brand in the digital landscape, conveying more trust and reputation to your business with a good marketing plan that effectively displays the benefits of your products and your added value.
Whether you are a brand already navigating the digital landscape or a new one, ensure your website offers a smooth experience to visitors. Consumers are looking for availability and speed; brands need to provide a neat and timely shopping experience.
A survey from Radial showed that people are expecting to receive their holiday gifts within two days after buying them. To accomplish this, it is necessary to devise an implementation strategy that guarantees deliverability within the expected timeframe that customers are demanding.
The use of technology and mobile devices has facilitated customers to become more prepared and better-informed, and harder to please when it comes to what products they want and how they want it. They are online anywhere and all the time and your brand needs to be there, ready to pop up when they are looking for you. You need to increase your accessibility, optimize your messaging to meet and satisfy your customers’ demands.
Use QR codes to get more conversions
QR codes can be used for different advertising and sales strategies. You can use them to attract consumers by offering discounts or promotions before your competitors launch their campaigns. Use them also to encourage customers to subscribe to your newsletters, to follow you on social media, or learn about new deals and sales.
Consider your audiences’ shopping behaviors during the pandemic
Brands are already rolling out their marketing strategies to reach out to their different audiences and targets during the Holiday season, and to hit the right audiences, it is key to take into account how consumer behavior has changed due to COVID-19.
Insights from the firm First Insight revealed that Millennials and Generation Z are the consumers who have altered most of their shopping behaviors, compared to Generation X and Baby Boomers:
- 54% of Millennials said COVID-19 impacted their purchase decisions, versus 33% of Boomers, 42% of Generation X, and 49% of Generation Z.
- 48% of Millennials and 41% of Generation Z expressed that the pandemic influenced what type of products they are buying.
- Generation X (37%), Millennials (39%), and Generation Z (38%) are the groups more concerned with where and how to shop, compared to Boomers (just 26%)
- 40% of Millennials and 41% of Generation Z have reduced their spending to cope with the economic impact of the coronavirus, compared to 36% of Generation X and 23% of Baby Boomers.
- More Millennials shop less in stores compared with the other groups and shopping online more.
- 47% of Generation Z prefer to use BOPIS services to get their products to reduce the need to shop in stores. 30% of Millennials prefer to use curbside pick-up.
- 52% of Millennials are less eager to buy products manufactured in affected areas (China).
To summarize: This year, brands need to adjust to support the new consumer habits of their customers. Make yourself available throughout all online channels. Have a robust online presence and develop a good marketing strategy, evaluate your audiences’ shopping trends, and adapt your messaging to best fit their needs and behaviors. This Holiday shopping season is the starting point that will help your brand to undergo a more optimistic sales cycle in 2021.
We hope the above information will help you in making informed decisions about your brand. If you want to say hi or have any questions about naming, branding, and domain names get in touch, we’re always happy to hear from you.
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