This year has been a whirlwind of uncertainties, but one thing’s for sure — holiday shopping season always comes, and it’s just around the corner! You’re probably already working on your plan of attack to slay the busiest retail season, but Covid-19 has altered the usual holiday shopping landscape. We’re breaking down some of the most important bits and pieces from this year’s PwC Holiday Outlook to help you make the most of your influence this holiday. What changes should you expect because of Covid-19?
In the coming weeks we’ll take a deeper dive into content ideas to help you capitalize on these insights, but here are the important facts to consider before planning your holiday 2020 strategy.
Holiday 2020 projections:
- 55% of shoppers will spend the same or more as they did last year.
- Many consumers plan on spending less this year due to income loss from the pandemic.
- 13% of shoppers will spend more this year — and those shoppers are young, high-earning city dwellers.
- Consumers are concerned about health and safety, but 88% say they’re willing to shop in-store if proper safety procedures are followed.
- 60% of shoppers will visit fewer stores this year, keeping their shopping targeted to reduce risk.
What do consumers want to buy?
- Young consumers will spend the most on entertainment this year, but 65% of shoppers are looking to buy new tech devices.
- The number of consumers who would like to receive the gift of travel is up 7% from last year, after being cooped up throughout the pandemic.
Online shopping triumphs!
Due to shutdowns, quarantines, social distancing, and people spending more time online as a result, online shopping is bigger than ever. Last year, for the first time ever, more consumers said they would do most of their shopping online than in store. This year, over 60% of consumers plan to do most of their shopping online! Online is where influencers live, so do what you can to leverage this increased web traffic!
- Online shopping is the clear winner this year, with 61% of consumers planning to do the bulk of their shopping online.
- Home delivery is still most prominent delivery method for online shopping, but curbside pickup has soared in popularity, especially with Gen Z and Millennials.
For consumers, it’s all about trust.
Consumers are understandably cautious this year, and are looking for stores they can trust to follow health and safety guidelines related to the pandemic. Contactless payment is also high on the list of safety precautions consumers are looking for. Young shoppers (ages 17-38) are also looking for ethically trustworthy brands, concerned with issues like labor practices and carbon footprint. With so many consumers looking for trust this year, they’ll want their influencers to be just as trustworthy. Authenticity is more important than ever.
We HIGHLY suggest downloading the PwC Holiday Outlook and reading through this epic document to really understand all holiday 2020 insights. In the next few weeks, we’ll share content and promotional ideas to really help you make the most of the holiday season!