Holiday shopping season report 2020 From Mckinsey
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The following is the Holiday shopping season report 2020 From Mckinsey recommended by recordtrend.com. And this article belongs to the classification: research report, Online shopping, Mckinsey .
This crisis has expanded consumers’ desire for choice and introduced unexpected changes in consumer behavior. With the advent of the holiday shopping season in 2020, periscope and McKinsey analyzed the major trends that will affect holiday shopping this year.
New consumers
More than 60% of global consumers have changed their shopping habits and intend to stick with it. E-commerce continues to flourish, with 37% of consumers planning to shop more online this year. However, as consumers want to get gift inspiration through multiple channels, Omni channel is still the focus of the holiday.
Loyalty challenge
According to periscope’s retail report, 40% of consumers tried new brands during the pandemic, and this behavior will continue during holiday shopping. Only 12% of consumers will shop from the same retailers and brands as they did last year.
Personalization and social media may be key for retailers looking to acquire new and old customers. 31% of consumers said that social media can trigger gift buying behavior, and 25% of consumers think personalized advertising can also.
Holiday spending overall decreased
Although consumers plan to reduce overall holiday spending, they are increasing spending on the blockbuster shopping day. They are price sensitive, expect value and better transportation costs, but also want convenience and practicality.
Hot shopping day
Black Friday dominates, followed by Amazon Prime day recently. In Britain, Black Friday overtook boxing day as the most popular shopping day, while in China, double 11 is the focus of attention.
Early bird special
Nearly a third of shoppers said they would start holiday shopping earlier this year than last year. During the pandemic, people are both excited and anxious about shopping, but three quarters of Chinese shoppers will enter the holidays with enthusiasm.
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