2018 Holiday Season Trends & Predictions
2018 Holiday Season Trends & Predictions The 2018 holiday shopping season is nearing a close. This year retailers have observed a continued shift in shopping trends as online ecommerce is gaining more momentum. An emerging trend includes customers shopping online and preferring a local pickup option instead of getting it delivered to their doorstep. In addition, the shopping time period commonly known as Black Friday – Cyber Monday has now been extended to include a whole week as retailers look to take advantage of the buildup with “early-bird” sales. Let’s take a look at a few statistics: Thanksgiving Day: Online spending on Thanksgiving Day grew by 27.9% year over year and achieved its highest growth rates since 2014. For the first time in recent history, many retailers charged the same prices on Thanksgiving and Black Friday. We predict that in the next three years, retailers will encourage consumers to buy on Thanksgiving Day or Thanksgiving Eve with additional incentives and online coupons and specials. An entire week of marketed holiday shopping is on the horizon. Black Friday: Online sales grew by 23.6% year over year as this day continues to be the bell cow day for holiday shopping in brick and mortar stores combined with online shopping. Foot traffic did fall year over year by 1.7% but online shopping broke records. We predict that Black Friday will continue to see fewer people visiting stores in person and significantly more online sales and traffic. The days of a mini-stampede as the large retail stores opens at midnight will be ending soon while shopping online will dominate. Cyber Monday: New records were set this year as online sales exceeded $7.9 billion and grew by 19% compared to 2017. Amazon reported that shopping numbers on this day exceeded their wildly popular Amazon Prime Day sales records that was set earlier this year. Strong mobile purchasing led this growth and many consumers are choosing a new, but popular option of Buying Online and Picking Up In Store (BOPIS). Over $2 billion in sales came from mobile phones which reiterated the importance of having a strong mobile experience for all retail stores. We predict that Cyber Monday will soon replace Black Friday as the busiest shopping day of the year and this one day will determine the true direction of the holiday season for all retailers. What trends and predictions do you have to share regarding the 2018 retail holiday season? Meet us in the comments section with your thoughts.
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