Shopping Online Trends - Deloitte Thanksgiving Pulse Survey Podcast #121

TL;DR

The Deloitte survey provides insights into holiday shopping trends, with online sales increasing due to health and safety concerns.

Transcript

how are your sales stacking up against the competition that's a question we frequently get why are my sales down or are my sales up compared to everybody else my name is stephen pope i'm the founder of my amazon guy in this video i'm going to be reviewing a deloitte survey that was just released and it talks about some trends really interesting tre... Read More

Key Insights

• ❓ Prime Day provided a boost to holiday sales, although not comparable to Black Friday.
• 🛍️ Online shopping has seen a significant increase, while in-store shopping rates have decreased.
• 🪡 Retailers need to prioritize safety measures and offer convenient delivery and return policies to win over consumers.
• 😃 Cyber Monday remains the biggest sales day, surpassing Black Friday in online shopping.
• 🎯 Retailers should focus on targeting consumers who have not started their holiday shopping yet.
• 🥳 Delivery options are crucial, with consumers favoring standard, contactless, and same-day/next-day delivery.
• 🤝 Health and safety concerns, along with great deals, are top priorities for consumers during the shopping season.

Questions & Answers

Q: Did Prime Day kick off the holiday season earlier this year?

While Prime Day did not have the same impact as Black Friday, it provided a significant boost to sales on Amazon, helping to initiate the holiday shopping period.

Q: How are retailers adjusting their promotional strategies this year?

Retailers have shifted their promotional cadence to start earlier. However, it is advised to carefully manage supply chain issues to avoid stockouts.

Q: What are consumers' top concerns during the holiday period?

Consumers are primarily concerned about health and safety precautions. They are also seeking great deals and expecting strong safety measures from retailers.

Q: How has COVID-19 impacted shopping behavior?

The pandemic has accelerated the shift towards online shopping, leading to increased online sales. In-store shopping rates have declined due to health concerns.

Summary & Key Takeaways

• Thanksgiving shopping traditions have been impacted by health and safety concerns, resulting in lower participation rates and average spending during the holiday period.

• Online sales have significantly increased, with consumers favoring convenient delivery and return policies.

• Black Friday in-store shopping is expected to decrease, while Cyber Monday remains the biggest sales day, emphasizing the shift towards online shopping.