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BizReport : Ecommerce archives : September 24, 2018

Report: 5% growth for holiday shopping season

Merchants can look for steady growth during the upcoming holiday shopping season. That, according to Deloitte's new Holiday Forecast which indicates retail sales should be up by at least 5%; that would push retail sales to just over $1 trillion between November 2018 and January 2019.

by Kristina Knight

Additionally, ecommerce sales are expected to increase by at least 17%, to reach at least $128 billion.

"Consumer sentiment and spending indicators provide a healthy outlook for retailers across channels with strong expectations for store-based and online retailers," said Rod Sides, vice chairman, Deloitte LLP and U.S. retail and distribution sector leader. "We've seen retailers continue to advance their approaches to shipping, delivery, in-store experiences and tech-enabled commerce. That can include things like showrooms, interactive displays that replace sorting through racks with simple, easy selections or web-based visualization that lets people get a feel for style, fit and appearance from apparel to home decor. Voice-enabled shopping and shortened delivery times may also accelerate the competition around fast and easy purchasing options. The leading retailers this holiday season could be the ones who are able to strike the right balance between innovation, experience, and value that best engages the consumer and stands out in a busy season."

More Deloitte predictions can be accessed here.

As to exactly what merchants can expect for the season, RetailMeNot's 2018 Holiday Insight guide indicates the average shopper will spend just over $800 between Black Friday and Cyber Monday, but that most (60%) will begin their holiday shopping before Black Friday. The forecast also suggests that most shoppers (87%) will be looking for deals to make their holiday cash go farther.

And, in addition to spending more on ecommerce, look for more shopping to turn to mobile shopping - especially Millennial shoppers,

"While millennials showcase a higher level of comfort with mobile shopping and are more likely to demand personalized and instant experiences from retailers, all consumers this holiday season are seeking a great experience with a good deal," said Tarleton. "The retailers who succeed this year will rely on data for smart discounting strategies and smart marketing to meet consumers where they are."

The full RetailMeNot forecast can be accessed here.

Tags: 2018 holiday shopping forecast, Deloitte, Deloitte Holiday Forecast, ecommerce, ecommerce trends, retail trends, RetailMeNot

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