According to new research, the global pandemic has accelerated online shopping, in recent months consumers have spent a record amount of time online and e-commerce sales have spiked. Although lockdown measures are lifting, the effects are set to shake up the retail scene throughout the rest of the year, which means this Christmas retailers need to speed up their online efforts ahead of the festive ecommerce frenzy.
As we enter this year retail’s Golden Quarter, the pressure remains on brands and retailers to maximize this Christmas holiday period as the effects of the pandemic continue to be felt. There are 3 trends in the recent retail world.
Digital Retail Accelerating
With consumers now adjusted to online shopping, social distancing measures still in place and many still cautious, online will remain a priority platform for customers to shop, compare prices, and understand experiences from other customers.
For the Black Friday that has just past, by tracking the real-time online sales of 80 of the top 100 largest retailers in the United States, online shopping research company Adobe Analytics statistics show that US consumers’ online spending on Black Friday this year reached US$9 billion, a year-on-year increase of 21.6%. This figure makes Black Friday this year the second largest online consumer day in American history, second only to the US$9.4 billion of Cyber Monday in 2019. The conversion rate of retailer websites that provide self-pickup services is 31% higher, which reflects people's love and popularity of online shopping. During the epidemic, more and more consumers no longer go to shopping centers, but instead sit at home and buy gifts on their mobile phones. Obviously, the online sales momentum during the Thanksgiving weekend is very strong.
Many associate Black Friday and Cyber Monday sales as peak buying days for holiday shoppers, the entire month of November sees elevated page views and order count – in 2019, page views were up 31.4% and order count was up 65.9% compared to usual. With the majority of shoppers say they purchase gifts during holiday sales to take advantage of the deals, the impact of COVID-19 looks set to exacerbate this as consumers consider their finances more carefully.
The recent spike in online shopping has accelerated customer submissions of reviews and questions this year. There was a notable increase in question submissions in October, at 4.5% more than the typical month. As a result, this holiday season an even higher upward trajectory of user submitted content is expected.
This information is increasingly influencing whether shoppers decide to purchase or not, and brands must be visible to their customers online. 48% of shoppers say brands and retailers responding to reviews improves their odds of buying the product.
Its vital brands ensure their websites offer a seamless shopping experience and make it easy for customers to find the answers they seek through Q&A, reviews and brand response to maximize revenue opportunities. This year has been challenging for retailers – they must understand the behavior changes lockdown has driven and adapt to engage customers effectively this holiday season.
Hello, please leave your name and email here before chat online so that we won't miss your message and contact you smoothly.