Do you remember 2019 Amazon Prime Day, the greatest sales ever in history? According to Statista, the two-day-long sale had raked in $7.6 billion, a massive sum compared to the previous years. It clearly signifies the dominance of Amazon in the world. At the same time, it also marks a significant shift in the world’s shopping culture.
The growing number of online shoppers is going to amplify the Holiday season shopping as well. Deloitte's forecast and the National Retail Federation’s survey are also substantiating the same. Deloitte is predicting that there would be a 4.5%–5.0% increase in 2019 holiday sales compared to 2018. More than 165 million people are expected to shop from Thanksgiving Day through Cyber Monday alone, according to NRC prediction. However, both surveys and other retail experts unanimously agree on the pivotal part of digital shopping in the enhancement of Holiday shopping.
If shoppers loved purchasing discounted products by physically checking in earlier times, the millennials mostly prioritize some other things. Deloitte considers purchasing great products with red hot discounts and convenience is one of the millennials' top shopping trends.
No doubt, it is not easy to purchase all your products from a physical store on Black Friday. Online stores and marketplaces eliminate the ‘stuck-in-the crowd’ scenario and give the opportunity to get all your favorite items. Even though Holiday shopping from physical retail stores gives a unique and nostalgic experience, now people are gradually tending toward ‘convenience’.
Above that, the online holiday shopping offers plentiful deals and discounts, and that is quite important for a shopper to analyze and compare, and choose the most profitable deals. Since there are several sales seasons in which people get discounts, Gen Y and Gen Z have grown to analyze and choose the best among them. As a result, retailers introduce innumerable offers to attract shoppers.
Digital shopping is plausible to take the lead in the Holiday shopping, and that will be quite challenging for physical retailers. E-commerce sales are expected to grow by 14%–18%, according to Deloitte. Thus, the in-store retailers either have to bring novel strategies or adapt the E-commerce business to succeed.
You May Also Read Like:
Your rate 3 stars is recorded
StartupWorld is the destination to learn about new and upcoming startups making waves on the web. Being an entrepreneur is as much hard work as it is fun. No one knows it better than you do. Share your story, send it in and let us showcase it to the world.