Holidays shopping is early this year
Holiday shopping has been turned on its head this year. There’ll be a lot more shopping online and far less money spent on Black Friday. The combination of Prime Day being moved from June to October 13-14, retailers trying to move Christmas shopping forward so their stores won’t be packed with COVID-carrying shoppers, and pent up consumer demand has pushed the holiday shopping season into October.
- 50% of shoppers are already shopping for the holidays with an expected $6B in sales pulled from November into October. (1)
- Online shopping has been huge this year, up 43% in Sep. (2)
- Prime Day, Oct 13-14, was up 45.2%, to $10.4B. (3)
According to Mark Triton, CEO of Bed Bath & Beyond, “Traditional one-day only in-store sales will be replaced with online sales… customers will be looking for value early and participating less in that all-important one day event in stores.”
Walmart is leading the way and will feature 3 sales events. Walmart sales events will begin online, with sale prices transitioning to in-store 3 days after the online launch. (4)
Perfect way to reach these holiday shoppers? Online using MV2020 WM OP audience. Then, MV2020 in-store WM audience.
Store visits will be much more purposeful
In addition to an early holiday shopping season, buyers are expected to consolidate their in-store visits — but plan more for these trips and buy more when they go to the store.
Howard Meitiner, managing director at Carl Marks Advisors said “I don’t think people are going to just go off to stores without planning and thinking. That means shoppers will have fewer store visits, but when they do go into a physical space they will purchase more. It means a much more purposeful visit.”
In-store holiday traffic is expected to drop significantly as retailers apply new social distancing safety protocols. This gives retailers like Walmart, Costco & Target a leg up because consumers can shop more categories from a single location.
The winners are going to be the retailers who can offer consumers flexible shopping options both on and offline.
Howard Meitiner calls this the “four A’s of service — anytime, anyplace, anyway, anywhere — as retailers attempt to leverage their operations to quickly fill orders at various touchpoints.”
Solution? MV2020’s WM in-store audience look-back targeting, to influence in-store shoppers and get the product “on the list”.
4 Retail Dive