Meeting Consumer Expectations This Holiday Shopping Season
This November and December is poised to be the biggest year yet for retailers, especially online retailers.
Deloitte predicts that holiday sales growth will grow 4.5%, an increase from last year’s 3.6% growth. Ecommerce sales are expected to growth by 18-21%, a significant increase from last year’s 14.3% growth.
Overall, holidays sales are expected to hit $1.04T and eCommerce sales could hit $114B. Last year, the Adobe Digital Index recorded that online sales hit $91.7B, an 11% increase from last year. So things look great for retailers. Sales are up, revenues are hitting records highs, what could go wrong?
Retailers can’t expect to just sit back and let the customers and revenue come in. On last holiday season’s two biggest days, Black Friday and Cyber Monday, only 40% of retailers experienced above average revenue growth and the rest actually experienced a decline in revenue growth.
While the holiday shopping season can lead to a huge end-of-the-year quarter, it isn’t a guarantee. So how do retailers capitalize on the upcoming holiday season? We’re glad you asked.
Our Holiday Research Report Webinar offers a first look at our upcoming Consumer Behavior and Expectations: The 2017 Holiday Research Report. The webinar touches on some of the key research we conducted to create the report, which includes analyzing millions of reviews, globally, throughout past holiday shopping seasons, performing a sentiment and keyword analysis on reviews to understand what drove 1- and 5-star reviews, and polling over 13,000 consumers to learn exactly what their expectations are this holiday season and what they use in order to make a purchase decision.
UPDATE Sorry if you missed the webinar but you can still check out our live recording below!