BizReport

RSS feed Get our RSS feed

News by Topic




BizReport : Ecommerce : November 12, 2020


Reports: Unofficial holiday shopping start strong

The holiday season may not kick off in full until November 28 this year, but early signs indicate a good shopping season despite worries about the COVID-19 pandemic. Deloitte has released a new report citing the interest and engagement with Amazon's belated Prime Day as one reason they expect the holiday season to help retailers hit the black.

by Kristina Knight

For example, Deloitte's researchers found that ecommerce spiked the week of October 11, when Amazon finally held their annual Prime Day event. Year over Year, sales increased by 50%, and it has spurred more events to launch, propelling sales 6%, overall, compared to 2019.

"The InSightIQ analysis confirms that retailers' strategy to accelerate holiday shopping was successful. During Prime Week, major retailers' online promotions drove the share of digital shopping even higher and helped jump-start the shopping season this year as shoppers purchased items traditionally associated with the holiday season, including toys, games, electronics and sporting goods," said Jeff Simpson, Leader, InsightIQ, and Principal, Deloitte Consulting LLP.

Deloitte surveyed shoppers about when they'll begin their official holiday shopping and 61% reported plans to begin shopping before Thanksgiving; those shoppers are expected to spend about $1,537 during the holiday season.

More Deloitte holiday data can be found here.

Meanwhile, another report indicates small businesses and boutiques may have a very good holiday season. According to an Apricot Lane Boutique survey, women are shopping local (68%) this holiday season, and nearly two-thirds (61%) say they'll be shopping in-store to browse offerings.

"The results of our survey represent a turning point among retail consumer sentiment regarding shopping in person and locally, as 66% of respondents feel joyful, hopeful and normal again when they go shopping at a local boutique," said Patrick Stewart, CEO of Apricot Lane Boutique. "Amid the uncertainties in today's retail environment, these shoppers demand a unique and personalized experience with their retailer, and also care deeply about investing in their local communities. Our research ultimately points to the importance of relationships and further proves that emotional connections drive a shopper's decision to support and remain loyal to local retail boutiques when shopping for apparel, especially when times are tough."

However, there could be grinches out to spoil retailers' holiday season. Keeper Security is advising merchants and brands to up their digital security heading into the holiday season. That's because of a spike in account takeovers and compromised device issues over the past year. Their research shows a 62% increase in account takeovers, a 56% increase in stolen or compromised devices since the pandemic began.

They suggest merchants quickly implement BYOD rules for employees and update cyberattack training in the lead-up to the holiday season.

More data from the Keeper Security report can be accessed here.






Tags: 2020 holiday ecommerce, Apricot Lane Boutique, Deloitte, ecommerce, ecommerce security, ecommerce trends, Keeper Security








Subscribe to BizReport







http://www.bizreport.com/2020/11/reports-unofficial-holiday-shopping-start-strong.html

 

 

Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.