The holiday is a crucial test to see how COVID has impacted purchasing, and if these changes will stick for the long term. The success of the holiday sales depends on whether brands and retailers are able to stay agile and pivot to serve customers best, strengthen fulfillment and supply chain capacity, redesign consumer experience by leveraging advanced technology, and embrace the challenges to capture growth in unusual conditions.
With this special report, How to Win the 2020 Holiday Shopping Season, you will gain the latest highlights in the market as well as what brands and retailers should expect and prepare for the pandemic-era festive season.
THE REPORT KEY TAKEAWAYS:
Shopping Will Start Earlier
Many brands and retailers are starting holiday sales earlier than ever this year, a month before Black Friday. Convenience, speed, and availability are the top three factors driving consumer shopping habits this year. Therefore, they will start preparing and shopping for holidays earlier than usual to ensure safety, avoid crowds, and lessen the impact on their wallets.
Consumers Plan to Tighten Their Holiday Budget Belt
Overall, an average half of the consumers remain optimistic in the wake of the pandemic and will stick to their holiday shopping budgets as last year or slightly increase it. Meanwhile, the other half is still wary and plans to spend less, leading to two possible scenarios brands and retailers can expect going into the pandemic-era festive season.
Preparing for A Pandemic Holiday Season
Four tips and best practices designed to help ensure retailers are primed and ready to take on the 2020 holiday season and make it the best of these difficult times.
🌟 Enhance the fulfillment capabilities
🌟 Shape the customer experience
🌟 Replicate the in-store-experience elsewhere
🌟 Personalize experiences
“Virtual” Holiday Shopping
To drive customers back into the store, physical brands and retailers can start tapping into digitally-enabled capabilities to accommodate consumers' need for convenience and safety. Indeed, as the omnichannel approach has changed forever, retailers must bridge online and physical worlds to include hybrid touchpoint solutions.