For most retailers, "the holidays" is the busiest time of year. And the most high-stakes. In 2020, on top of the stresses of a "normal" holiday shopping season, retailers are also dealing with a pandemic and recession.
According to the National Retail Federation, the holidays account for about 20% of all annual retail sales. It's enough to send any e-Commerce manager into a panic.
How do you exceed your customers' online shopping needs in a year when the world has been turned upside down?
It won't be easy. But with the right tools and insights, you'll be able to weather the storm that is the 2020 holiday shopping season.
We can help.
Let us tell you a little bit about:
We're seeing an unprecedented increase in the number of people shopping online. If you want to own the 2020 holiday shopping season, you can't cut important programs like customer research and engagement. That will only set you further behind. Instead, you want to focus your investments on initiatives that enable you to flourish now and in the future, when the economy stabilizes.
In past recessions, the first thing brands did when sales started to slow was slashing their marketing and development budgets. But this time around, such blanket budget-cutting can do more harm than good. This time around (as compared with the crisis of 2008), it's clear you need to work fast and be willing to pivot to keep up with the economy and its impact on shoppers' needs.
This holiday season, your goal is to give shoppers an online experience that's as good as or ideally better than what they'll find shopping in-store. On top of that, you have to do it in a highly shareable way.
How you accomplish this will depend on your resources, budget, and current digital offerings.
What you can expect from the 2020 holiday season is seeing more online shoppers, no more 11th-hour shopping sprees, mobile will continue to rule, shoppers will want the option of picking up orders in-store(among the most important things).
To ensure you're ready for the deluge of online shoppers this holiday season, here are three changes you must make to your digital storefront right away.
The information above is only a small piece of the puzzle of what you can do now. We want to show you the rest of the picture. Download our holiday e-book, "Accelerating E-Commerce," to receive 50 pages of goodness filled with structured information and bits of advice from top industry experts (including PayPal, Adobe, Vertex, Klaviyo, and Signifyd).
Let’s achieve your business goals together!