Predictions say this holiday season will be bigger and better than ever, and now is the time for brands to get a jump on holiday planning. Here’s what your brand needs to know to help drive holiday revenue.
Predictions say this holiday season will be bigger and better than ever, and now is the time for brand marketers to get a jump on holiday planning. To help brands gear up for the upcoming holiday season, we’re sharing insights on the ways consumers plan to shop in the last few months of 2021.
Here’s what your brand needs to know as you plan for the upcoming holiday season.
Holiday Spending Will Rise
A recent Martech survey found that 64% of consumers expect this season to be bigger and more meaningful than 2020. As a result:
- eMarketer is forecastingU.S. holiday retail sales to rise +2.7% from 2020
- 62% of consumers plan to spend more this holiday season than pre-covid 2019 (Martech)
- 38% of consumers anticipate spending $600+ on their holiday shopping this year (Shopkick)
Shoppers Will Start Early
With consumers feeling more emotionally invested this holiday season, many will begin shopping earlier than in years past. Half of the respondents in a recent Martech survey said they plan to start buying holiday gifts well before Black Friday. Additionally:
- 66% will avoid major shopping holidays due to potential out-of-stock issues or potential errors in their online shopping purchases
- 29% of Millennials say that it will take about a week to make a holiday purchase decision
E-Commerce is Dominant
Online shopping habits created during the pandemic seem like they are here to stay, at least through the holiday season. eMarketer has found that:
- E-commerce sales are forecasted to rise 11% during the 2021 holiday season
- Experts expect that nearly 19% of the total holiday season retail sales will come from e-commerce.
But In-Store Shopping Isn’t Dead
While many consumers are still planning to do most of their shopping online this year, in-store shopping will still be essential for many. In a recent Shopkick survey, 43% of U.S. consumers stated that they would be doing most of their holiday shopping in physical stores. Benefits to in-store holiday shopping in 2021 include:
- 70% of consumers want the ability tryout and see products in person
- 41% of consumers want in-person sales associate interactions
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