While consumers are enjoying the colors and cooler temperatures of fall, your fulfillment warehouse is busy ramping up for the holiday shopping season. During this period, which traditionally kicks off the day after Thanksgiving on Black Friday, most retailers make 25 to 30 percent of their annual sales.
Having the right product mix is only part of the equation for a successful holiday selling season. You have to anticipate the shopping behaviors of your target audience and tailor your sales and marketing strategy accordingly.
Here's a look at the major consumer shopping trends experts are projecting for the 2018 holiday season.
Consumers Are in a Spending Mood
Growing confidence in the economy is being reflected in holiday spending plans. A recent holiday shopping survey by consulting firm Accenture found that nine of 10 respondents plan to spend at least as much as last year, with one-third expecting to spend more. Somewhat surprisingly, millennials between the ages of 21 and 37 make up the biggest spenders.
Shopping Will Be Done Earlier
In recent years, Black Friday has been accompanied by Cyber Monday, which is a day promoted for online holiday shopping. Experts are predicting that in 2018, 37 percent of holiday retail sales will occur between Thanksgiving Day and Saturday, December 1, which represents the end of Cyber Monday Week.
This prediction coincides with the findings of another holiday shopping survey conducted by Natural Insight, a cloud-based retail platform. According to those respondents, 47 percent of all holiday shopping will be completed before December.
Brick-and-Mortar Isn't Dead
Online shopping appears to be an unstoppable juggernaut, but the Natural Insight survey reveals that 88 percent of shoppers plan to visit brick-and-mortar stores this holiday season. Many consumers are still drawn by the interactive experience, leading in-store retailers to emphasize personalized services.
Mobile and Voice Shopping Continues to Grow
Mobile shopping exploded in 2017 as smart phones overtook tablets and laptops to become the preferred medium for online sales. This trend shows no signs of slowing down, with experts predicting that slightly more than half of holiday online purchases will be done via smart phones.
Data from Pew Research Center indicates that 46 percent of Americans have used a digital voice-driven assistant such as Alexa. Expect voice shopping to begin making inroads into holiday shopping habits, possibly as much as three percent.
Free Shipping Is a Popular Perk
Savvy consumers have been demanding free shipping as an incentive to spend their online dollars, and the holidays are no exception. With shopping expected to be done earlier, consumers will have sufficient lead time to take advantage of free shipping offers.
Your #1 Choice for a Year-Round Fulfillment Warehouse
Are you looking for a fulfillment warehouse that can scale to accommodate seasonal demand and other fluctuations in business? Medallion Fulfillment & Logistics can create a personalized slate of services to fit your specific needs.
Contact us today to learn more about how Medallion is your preferred fulfillment warehouse for any season of the year.
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