Businesses all over the world aim to capitalize on holidays to attract customers to buy their products. With the use of exclusive deals, packages, and discounts, among many other incentives, different companies make sure they provide customers plenty of options for any major holiday or celebration. According to Statista, the e-commerce industry is set to record sales figures of around $ 6,542 billion by 2023. In such a booming market, companies ensure they continue to innovate and provide novel ideas and products for holidays. Here are some major online shopping trends for the holidays:
Trends among holiday shoppers
Holiday shoppers provide yet another exciting and growing market to tap into:
The tech-savvy holiday shopper ensures that they do their homework before buying something. Before making a purchase decision, they will explore a wide variety of options and deals to ensure they are getting the best value.
The prepared holiday shopper starts searching for the best items and deals well in advance and ensures that they get the right products and the right time. They make sure they are finished with all significant purchases well before peak holidays, such as Black Friday and Valentine’s Day, to name a few.
The eleventh-hour holiday shopper shows the least readiness. Panic-buying at the last minute for the holidays means that this shopper ends up taking the wrong decisions and loses out on the best deals and offers. Many companies look to exploit such customers and ensure that they extract the most out of these confused individuals.
The future of holiday shopping trends
So, what must a company do to ensure maximum sales revenue during different holiday periods? Here’s what a firm can do:
- Keep them engaged: According to statistics, only 13% of holiday shoppers remain involved in online shopping during the timeframe of the major holidays. In order to ensure a loyal and expansive customer base, companies with a genuine online presence must try and keep all kinds of shoppers engaged throughout the year, through different creative strategies.
- Experience is key: Companies must make sure that they continuously interact with customers online and offline. One of the best ways to do so is to build an experience around the whole activity of online shopping. The product itself Customization is another excellent strategy to ensure that the customer engages deeply with the product and the experience, creating a genuine loyalty connection with the company.
- Innovate, innovate, innovate: As the e-commerce industry continues to boom, all businesses must ensure that they continue to keep with the latest trends and innovations. This means that their creative departments must continue to think outside the box and design strategies to ensure that customers are retained and increased.
As e-commerce continues to grow and evolve, companies must do so too. Within such a competitive market, with holiday sales crossing $1 trillion in 2019, companies must try to continue expanding their digital footprint and remain ahead of the curve.