Consumers are expected to spend $630.5 billion this holiday shopping season. Local merchants are fighting tooth and nail to take back a larger share of that revenue from their ecommerce competitors. Here’s what industry leaders said about the types of incentives that work best for encouraging shoppers to make holiday purchases at local retail businesses instead of big-box stores or ecommerce sites.
If U.S. consumers proved reluctant to spend their Thanksgiving holiday in stores, they demonstrated few qualms about shopping online. Digital commerce was up significantly from 2014 levels. The momentum continued into Black Friday, which also saw brick-and-mortar spending reach its highest totals since 2012. The biggest winner over the holiday weekend was mobile: Its share of website traffic and online sales reached record highs.
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The holiday season isn’t just a big time of year for retail spending; it’s also a big time of year for retail spending data. The stats indicate one common trend: Purchasing is going to be more omnichannel than ever. Here’s a rundown on some key data points for this holiday shopping season.
Today marks the beginning of a crucial week and month for retailers, as shoppers clamor for deals and steals on presents for family, friends, and coworkers. Whether in-store, online, or a mobile device, an astounding amount of retail business will be transacted in the next five weeks. RetailMeNot vice president of communications Brian Hoyt said to expect a more personalized, more omnichannel holiday shopping season this year, courtesy of the ever-present smartphone.
Around the holidays, consumers tend to spend a lot more time on multiple devices, altering standard shopping habits and behaviors. This means brands and businesses need to ensure they are accurately and competitively represented in search, social, and mobile channels, and that social engagement and advertising efforts are properly targeted to the right consumers at the right times.
The busiest retail season of the year is upon us, and it’s shaping up to be a good one. An upcoming free Street Fight Insights webinar, presented in conjunction with Brandify and featuring immr founder Dr. Phil Hendrix, can help local business owners and their marketing and technology partners get ready for the tide of online and foot traffic. Don’t miss out on key insights that can help make your holiday season a success.