As the pandemic has changed the way many consumers behave, this holiday season will definitely be unique.
How will this affect Black Friday, Cyber Monday and Christmas shopping?
It’s hard to miss that the coronavirus has changed how consumers behave online. With social distancing regulations (or recommendations) in place, more people are avoiding large stores and retail outlets. An increasing amount of consumers have taken to online shopping as their main channel for consumption.
In fact, the coronavirus has accelerated the shift to e-commerce by 5 years. This shift was happening before Covid-19, but due of the virus, 2021 is expected to see a 20% YoY increase in e-commerse growth.
The increase of revenue for e-commerce brands is partly due to the common online shopper’s online activity, but there is also something unique for 2021. Half of Baby Boomers have increased their online shopping and due to many avoiding physical stores many are now using it as their primary shopping channel.
People who have been nudged to new online behavior won’t go back to pre-coronavirus habits. This suggests that the online holiday shopping season will see new records.