What will the 2020 Holidays look like?
As the holiday season approaches, we can’t help but wonder what will this year’s holiday look like? Most of us are still on stay-at-home order and it’s really quite difficult to go out and shop like we used to before the pandemic happened. What will our holidays look like? What about the annual big family get-togethers?
Pre-COVID, we are used to seeing the malls and shopping centers packed with people shopping for Christmas presents and decorations. Malls have promos and sales in order to attract customers into some retail therapy. Shopping will most probably not be significantly reduced, but most of the shopping will be done online, hence the rise of more digital sales and promotions by different brands.
The COVID-19 pandemic has caused the retail industry some real and major damage. Some are forced to shut down operations temporarily, some laid off employees, and a lot of businesses are forced to declare bankruptcy.
But the good thing is, the holiday season really has some sort of magic that is able to excite people and bring them together for some well-deserved retail therapy.
Here are 3 scenarios that will make our 2020 holidays different.
1. Shoppers will start early.
As early as November, retailers are already promoting their product offerings. This happens usually just around the time of Black Friday and Cyber Monday where shoppers are eager and hungry to take advantage of the biggest sale event of the year. According to Statista, “Cyber Monday 2019 became the biggest online shopping day in U.S. history, hitting record online sales of over 9.4 billion U.S. dollars.”
Not only is Black Friday and Cyber Monday the main reasons why holiday shopping will start early. Logistics may also be a huge factor as to why people will start shopping early. This is to avoid long shipping days.
2. Online sales will dominate the market.
Strong online sales performance are expected on this year’s holiday season, thanks to the digitalization brought about by the pandemic. Even if lockdown are already eased and people can now go out to shop, a fraction of the market will still prefer to shop online because of the convenience that it offers. Aside from that, it still much safer to shop from home.
A study from Digital Commerce states that “33% of retailers project web sales this holiday season to increase as much as 24%, while an additional 34% are predicting gains of 25% or more. The remaining retailers project flat sales (11%) or a downward trend (22%).”
3. People will be buying unconventional gifts.
Video games, online books, music, and even entertainment subscription will now be part of the gift categories that will be sold this year. The lockdown has taught us that the internet still has a lot to offer than just social media. Gift cards and other forms of online media will be bought as they are convenient and practical at the same time.