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BizReport : Ecommerce archives : September 24, 2019

Forecast: Look for holiday retail boost

Deloitte's new holiday retail forecast may put more black on merchants' bottom lines. That, because overall their experts believe holiday spending will increase about 5% YoY with online sales increasing unto 20% YoY.

by Kristina Knight

In all, Deloitte believes holiday sales will reach at least $144 billion during the 2019 shopping season.

"We've seen retailers continue to improve customer experience, invest in the fundamentals and leverage relationships with innovative startups to boost engagement and efficiency. But, convenience is the new retail currency; retailers who offer seamless experiences, have products available, and can deliver items more quickly than ever are most likely to win this holiday season," said Rod Sides, vice chairman, Deloitte LLP and U.S. retail and distribution sector leader.

More data from Deloitte can be accessed here.

Before spending a mint on holiday ads, though, marketers should take a look at what they're already doing in the digital space. How are merchants set up for payments? How seamless is the return strategy? And, what about how data is being used?
New research out from Valassis indicates consumers are willing to trade some personal information for more targeted advertising. While about half (48%) say they 'are concerned' about data privacy, two-thirds (69%) say they would trade 'some' personal data if they were to get more personalized, relevant offerings from their retailers of choice.

"These findings present a big opportunity for marketers," said Michelle Engle, senior vice president, marketing, Valassis. "Consumers find personalized offers extremely valuable, and are willing to share information to receive them - despite having privacy concerns. Marketers must find the right balance by focusing on transparency and ensuring consumers stay in control of their privacy while simultaneously delivering highly relevant and location-based offers."

Researchers further found that about 64% of consumers have made an impulse buy because of a personalized offer and that nearly one-third (29%) are more likely to make impulse buys because of personalized offers made via email.

But, the outlook isn't all perfect when it comes to advertising - even personalized offers. About one-quarter (27%) of people say they already receive too many offers and ads, 39% say digital ads are 'too intrusive' and 20% say they're receiving ads outside their preferred channel.

More data from the Valassis report can be accessed here.

Tags: 2019 holiday retail forecast, Deloitte, ecommerce, mcommerce, mobile marketing, online shopping trends, Valassis

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