Christmas Commerce: What’s in store this Q4?
‘Tis the season… for sales. For retailers, December is synonymous with big business. Between gifts, decorations and food, almost everyone ups their spending during the festive season. But with a backdrop of economic crisis, and shoppers tightening their belts, what does this month hold for retail, and how can you make the most of it?
The Festive Forecast
Despite economic downturn and concerns that Q4 would take a hit, Black Friday still saw over 196 million shoppers, up almost 20 million from last year, according to the NRF in the United States. Similar success was noted in the UK, with an all-time record reached on the number of transactions per second between midday and 1pm. Although overall consumer intentions are to spend less in 2022, the proportion of online spending still remains high, as 55% of adults say they’ll be shopping online this festive season, which should provide reassurance for e-commerce retailers.
Santa goes sustainable
Although facing strain from economic challenges, the ever-relevant climate crisis is also placing pressure on consumers to consider making conscious choices when spending. Over 54% of adults in Britain intend to make positive changes for the environment for the first time this Christmas. So, think recyclable wrapping paper, eco-friendly Christmas crackers and Christmas dinner food with less packaging. As of October, planet first and affordability first were tied as the most important factors whilst spending. Consumers are considering the impact of their presents. 44% plan to be more mindful of how useful the present will be, hoping to make them more financially worthwhile and sustainable in use.
Bring on Boxing Day!
After the festivities of the big day, focus turns the last sale day of the year – Boxing Day. It first became a shopping sensation in the late 1990s, after Sunday trading laws were relaxed. Although the traditional shopping holiday is starting to lie in the shadow of sales giant Black Friday, it’s still a hit in the UK, Australia, Canada and across Europe. Whilst most shoppers tend to use Black Friday as an opportunity to buy presents and other Christmas related essentials, Boxing Day is an excuse for us to treat ourselves, and spend our Christmas money. With the New Year less than one week after, consider promoting resolution related items, such as exercise equipment or organisational planners.
Has your online store got your New Year strategy ready? Why not get in contact with one of our e-commerce specialists here at Kelkoo Group.