The official holiday shopping season is underway and it promises to be more dynamic than ever. The big push is on to grab the attention of shoppers earlier and earlier at every possible turn on every communication platform possible. In 2014 many retailers opened their doors on Thanksgiving Day with doorbuster deals normally reserved for Black Friday. In 2015, a growing list of retailers are saying no to this trend and keeping their doors closed on Thanksgiving allowing employees to enjoy the holiday with their families.
In no way, shape or form does this mean there will be less shopping. It’s projected that consumer spending will increase by 3.7% to a healthy $630.5 billion in November and December of 2015. This is significantly higher than the average of 2.5% over the last 10 years. Online sales continue to show significant growth and are expected to increase an average of approximately 7% to as much as $105 billion.
In summary, consumers are expected to spend more this holiday season. Competition among retailers will be fierce in an effort to deliver the best product, prices and value to consumers via no small number of channels.
According to the National Retail Federation, in addition to expected consumer spending increases there are some other trends to watch in 2015:
- Omnichannel shopping will be bigger than ever. Digital shopping for some consumers is a primary means of shopping because of convenience and super competitive deals. We will also see other channels like ‘click and collect’ or buy online and pick up in store along with same day delivery gain ground this year.
- More than 50% of holiday shoppers plan to buy for themselves this year, so if you’re feeling like you want to treat yourself…you’re not alone. I didn’t get the memo all these years, I’ve been treating myself forever!
- Black Friday has changed from one day to the entire weekend leading up to Cyber Monday. Deals are available earlier and last longer.
- Spending on family members is expected to increase.
Whether you plan to hit the stores on Black Friday or shop from the comfort of your home, Happy Shopping! I hope you score some fabulous deals.