"Holiday shopping season" may be advanced, and the US online market continues to grow

A new survey from Morning Consult shows that consumer shopping behavior has shifted, with 85% of U.S. respondents saying that rising inflation has affected their shopping habits. 79% of consumers said they tend to buy discounted items , and 77% said they have reduced their shopping activities . Compared with last year, 70% of holiday shoppers are looking for more deals and promotions. Therefore, whether it is Black Friday, Cyber ​​Monday or Christmas , shoppers are more budget-conscious when buying gifts and always looking for ways to save money .

It’s well known that inflation raises prices, and buying gifts in the November and December shopping season will be more expensive than in October , so consumers hope to save money by shopping early. According to the NRF report , almost half of consumers started their holiday shopping before Thanksgiving (and Black Friday) last year. Nearly half (47%) of shoppers plan to start buying gifts between September and mid-October, and 36% said they plan to shop earlier this year than last year. Macy’s Chairman and CEO Jeff Gennette also said that "holiday shopping " is expected to start in October , just like in pandemic years .

Retailers and direct-to-consumer brand marketers have anticipated inflation-based drivers. Some retailers are reportedly preparing for the important holiday shopping season by cutting prices on merchandise to clear inventory . They can give shoppers early access to holiday deals or add buy now, pay later options to ease consumers' budgeting concerns.

Data shows that during the initial stage of the pandemic from 2019 to 2020, online sales in the US holiday shopping season grew rapidly. In 2020, online sales in the US "holiday shopping season" reached 189 billion US dollars, a year-on-year increase of 33%. Although the pandemic has eased now, online holiday sales in the United States in 2021 still increased by 10%, exceeding the 200 billion US dollar mark for the first time.

It seems that the number of consumers shopping online has not decreased, and more and more shoppers are turning to online holiday shopping. According to the survey, 96% of consumers plan to shop online , 86% of consumers plan to shop via mobile phones, and nearly half of millennials plan to do most of their shopping on their phones , so when the holiday shopping season comes, more consumers shop online . According to relevant agencies , from 2021 to 2026, the value of the US online retail market is expected to grow by US$460.13 billion, with a compound annual growth rate of 11.64% , of which holiday sales have played a very important role in driving the growth of US online sales .

USA

Holiday Shopping Season