What the holiday shopping season will look like in 2020

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30-second summary: Shoppers aren’t planning to significantly change how much they spend this holiday season compared with 2019. Many more people are planning to make their holiday purchases online versus in stores, where the fear of catching COVID-19 is still keeping shoppers away. While saving money remains a top priority for consumers, the contraction in consumer spending that occurred in April rebounded in May and June. Black Friday is moving online, converging with Cyber Monday to make the overall holiday shopping season for 2020 a very virtual one. Retailers can prepare for holiday shoppers by looking at behavior from the recent back-to-school shopping season. Sprout Social found that consumers and brands interacted much more on social media than pre-pandemic, dominated by social conversations focused on COVID-19. Retailers can prepare for the upcoming influx of virtual shoppers by focusing on personalization, polishing their messaging, understanding what platforms consumers use to communicate with brands, and understanding current consumer expectations regarding shipping times. It’s been a long, strange summer, with the pandemic continuing to impact nearly every aspect of our lives. The fear of contracting the virus has kept people away from indoor spaces, particularly throughout spring and summer. This is incredibly evident in the way we shop — and in the way we plan to shop as we head into the holidays. As the holiday shopping season approaches, our continued focus on the virus will have positive and negative consequences. First the good news. A consumer insights survey by ecommerce tech company Radial revealed that shoppers aren’t planning to significantly change how much they spend this holiday season compared with 2019. What is changing? How they plan to shop, with nearly 70% of respondents anticipating increasing online purchases this year. The fear of catching COVID-19 is still keeping consumers out of stores. Sixty percent of the over 1000 respondents in the Radial survey plan to shop less in-store due to this (very valid) fear. Overall, consumer spending is one of the top areas impacting by the virus. In a July 2020 survey of over 19,000 users by cashback platform Dosh, an astounding 90% of consumers indicated that saving money was a top priority, up from 87% in April. There’s good news from the Dosh survey too. In July 44% of consumers said they’re spending only on necessities, a decrease of 60% compared with a similar survey conducted in April. Source: Dosh Consumer …

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Key Insights: Holiday shopping ecommerce trends and how your business can win brownie points

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30-second summary: As holiday shopping season inches closer ecommerce prepares for the biggest opportunities in 2020. Trends and consumer behaviors that will give your business a strategic benefit. COVID-19 sure has crunched wallets and purses but brands still stand a better chance as 36.6% of consumers shop with more brands as compared to 2019. What will win more love during holiday shopping season? Digital platforms you should invest in and target your advertising on. Which regions should you target? How values and tasteful social media content makes 58% of consumers more inclined to make a purchase. Bon appetite, your weekly key insights are served! How businesses can buckle up for the early holiday shopping season The global pandemic and its domino effect will fail to dampen the 2020 holiday spirit. In fact, our previous key insights have pointed towards the holiday shopping season arriving sooner than before. To help you …

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Optimizing ecommerce & mobile for in-the-moment holiday shopping experiences

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30-second summary: Market conditions have shifted; they’re on a volatility roller coaster ride with an indeterminate amount of track of opportunity. US ecommerce sales in July rose 55% year-over-year (YoY) reaching a record $66.3 billion. 73% of consumers who are shopping online more since the pandemic plan to continue doing so in future. Ready or not, retailers need be planning new ways to deal with demand fluctuations across ecommerce categories now and plan for the holidays. In the face of dramatic shifts in consumer behavior, social distancing recommendations, and no end in sight to the uncertainty and changes in consumer behavior caused by the coronavirus, retailers are finding ecommerce and the mobile shopping experience more important than ever before. In fact, according to new data released from the Adobe Digital Index US ecommerce sales in July rose 55% year-over-year (YoY) reaching a record $66.3 billion. Strategies and technologies in the …

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New study shows digital engagement is key to post-pandemic ecommerce customer retention

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30-second summary: COVID-19 has accelerated consumers’ shift to online shopping around the world, making digital strategy critical to retailer success, both now and in the future Analyzing these behavior trends yields insights about elevated retention risk, the primacy of mobile, shifts in purchase motivation, and in what drives brand affinity The holiday season will see many consumers planning to spend less, and to support local small retailers, so digital marketers must adapt Best-practice marketing strategies are now mission critical: Focus on customer relevance through personalization, seamless cross-channel experiences, and empathetic messaging across the lifecycle, or consumers will move on As the summer winds down, many of us are holding our breath in anticipation of another wave of pandemic-related headlines, guidelines, and obstacles to business as usual. The only thing we seem to be able to count on is change. That’s certainly the case in the retail industry, which has experienced …

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Key Insights: Holiday sales predictions, milestone dates, and consumer online shopping challenges

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30-second summary: Holiday sales are projected to smash records with a total $189 billion reaching a 2X growth. Black Friday sales are expected to reach $10 billion. Shopping with many online retailers is a limbo for consumers. 42% of consumers did not complete a transaction and 52% of consumers were quick to buy from your competitors. With many walk-in retailers being closed on Thanksgiving, there’s room for online sales to see an additional $11 billion online spend bonus. Unlock your opportunities, discover the milestone dates where holiday sales will skyrocket and the pressing concerns that you need to tackle. Winter’s here, shopping’s near, but online experiences aren’t very dear. Even though holiday sales are projected to cross $189 billion, online retailers are far from home in the shopping experience department. This week we walk you through the predictions, milestone dates, customers’ shopping challenges, and the factors that can bridge that …

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Key Insights: Ecommerce, omnichannel marketing, CTV, and holiday season conversions

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30-second summary: 73% of online shoppers are expected to chase post-holiday bargains while 76% of eBay buyers plan to take advantage of after-Christmas and New Year shopping deals. 33% of brands that shifted their ad dollars in Q1 and Q2 of 2020 moved money to ecommerce. SMS conversion rate increased 98% over Q2 making it a priority to add SMS to email strategies. Three must-have omnichannel touchpoints to induce conversions. CTV ad impressions grew by 2X, 55% YoY, the only medium to see such accelerated growth. 23% of consumers are more comfortable sharing data about their likes/dislikes, gender, and location data. 56% of businesses without CDPs have limited ability to apply insights holistically across their marketing efforts. D2C retail companies have a customer-first approach that is 2X better than their non-transactional counterparts. This week we share revenue-driving insights on omnichannel marketing and CTV advertising that can help ecommerce businesses increase …

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Steering retail into 2021 with digital at the wheel

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30-second summary: The shift to online shopping was already well underway pre-pandemic. Consumers are taking advantage of expanded service offerings to get the products. Customers see digital and in-store as two facets of the same experience. People are looking for brands to deliver instantly on the values they believe in. In the absence of historic data, BI and search insights have become critically important. Now that the holiday buying season is well underway, we’re seeing the extent to which the year of the pandemic—and its unusual consumer trends and behavior—is impacting the retail industry. While some of these trends could revert to historic levels post-pandemic, others will likely change retail into 2021 and forever. The shift to online shopping was already well underway pre-pandemic, although no one could have predicted the speed at which adoption would increase over these past months. As digital accounts for an increasing proportion of purchases, …

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Key Insights: 2021 Strategic pearls on email and content marketing

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30-second summary: Consumers are becoming more conscious of how they shop, with an increased focus on small, minority-owned, women-owned, and Black-owned businesses. Shopping this year has more sentimental value as shoppers look for a morale boost. Nearly, half, (43%) of consumers used shopping as a means to cheer up family and friends. Mastercard predicted that 77% of Americans will choose to shop local while 75% of consumers intend to prefer shopping from businesses that share their personal values. Email and content marketing have stood as pillars for brands through 2020, these will be a make or break factor for businesses to succeed in 2021. Email marketing has an average ROI that is 4X higher than any other channel with APAC getting the highest open rates and EMEA winning the highest CTR. The top seven industries in terms of open rates and CTR revealed. Top priorities businesses must-have for email marketing …

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COVID-related digital behaviors that won’t going away in 2021

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30-second summary: Market volatility and rapid shifts in consumer behavior will continue in 2021. The longer the COVID pandemic goes on the more ingrained digital behaviors become. Shoppers are buying more online and spending more when they do. Consumers are becoming more comfortable online experiences over with time. Taking in-store experiences and taking them digital is becoming more common. Search and market insights are becoming mission-critical for all marketers To say the last several months have been a roller coaster would be an understatement. This year has been one for the books as we’ve collectively experienced something no generation before us has: the impact of the COVID-19 pandemic on a constantly connected, technology-empowered population. We’ve run the gamut of emotional states and economic impacts. As brands and consumers alike prepare for our most unusual holiday shopping season yet, it’s become clear that we’re in this for the long haul. While …

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Key Insights: Ecommerce, customer loyalty, the playbook for Q3 and Q4 2020

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30-second summary: The US has anticipated a 12% drop in private consumption over the next two years, with recovery to pre-crisis levels only by 2023-24. Customer loyalty has taken a huge hit and the holiday shopping season is arriving sooner than expected. A quick look at the app economy and digital environment trends. Good news is, the daily average usage (DAU) has shown a steady growth which will continue as the holiday shopping season arrives. How you can activate more sales for your ecommerce business. Place your pieces strategically to checkmate adversity and your competition for the rest of 2020. The global pandemic has reset the business chessboard. Customer loyalty has taken a huge hit and the holiday shopping season is arriving sooner than expected. Businesses have felt the heat this summer. This week we’re looking into the ecommerce and customer loyalty stats (fresh in) to help you create a …

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Key Insights: Exclusive market intelligence and ecommerce highlights

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30-second summary: Cyber Monday and Black Friday are set to smash the $10 billion ballpark figure in ecommerce sales. Thanksgiving is expecting a 49.5% sales growth. US retail ecommerce sales to reach $190.47 billion, which is a 35.8% jump. Consumer behavior insights that will help retailers take advantage of the shorter calendar window between Thanksgiving, Hanukkah, and Christmas will positively impact holiday shopping dynamics. Our latest Marketing Automation Summit data shows that 13% of businesses do not use marketing automation while 47% use some of it, and 28% are exploring their options. We tracked $52 million of investment in Marketing Technologies during October. Who got the funding? What are the top martech? How can you pivot strategy to ace holiday sales? Let’s help you find answers. After the smashing success of Amazon Prime Day , Cyber Monday and Black Friday are set to smash the $10 billion ballpark figure in …

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