Adobe Digital Insights (ADI)’s annual “Holiday Predictions Report” is out. Here is a condensed version so you can a) be aware of retail trends on the horizon or b) sound like an eCommerce guru at your next holiday party.
Prediction No. 1: The 2017 Holiday Season Will Be The First To Break $100 Billion In Online Sales
ADI is expecting a 13.8% increase from the same period last year with sales reaching $107.4 billion. Online growth is outstripping overall retail growth (13.8% compared to 3.8%).
Thanksgiving weekend, ADI says, will bolster this growth:
Absolunet says: Conduct load (peak capacity) testing NOW so that your site can handle additional/unexpected traffic.
Prediction 2: Consumers Will Be On The Hunt For A Bargain
Savvy consumers will time their purchases for the days listed below.
Absolunet says: Retailers can choose to line their sales up with these “intent-intensive” days or mix things up by running discounts on these items at different times of the month. Either way, make sure your deals are competitive as consumers are expecting the highest discounts of the year.
Prediction 3: The Majority Of Online Spend This Holiday Season Will Go To Large Retailers
ADI says that large retailers will be raking in the majority of online sales this season. Their prediction is based on that fact that large retailers grew their revenues twice as fast as other retailers in the first half of 2017. However, ADI notes that small retailers have the best mobile conversion rates.
Absolunet says: Small retailers CAN compete. It’s a question of providing high value for your customers across touchpoints, from a frictionless transactional experience to simple shipping and return practices. As a small retailer, a mobile app could be a smart play for your company.
Prediction 4: More Than Half Of Online Visits To Retail Sites Will Come From Mobile Devices
Speaking of mobile, it represents a big opportunity for engaging with existing consumers and increasing the Average Order Value.
Though 64% of shoppers currently have a retail app on their phone, only 32% will download an app solely for holiday shopping. Now isn’t the time for a campaign to acquire new mobile app users.
Absolunet says: When it comes to mobile, focus on nurturing your existing relationships and optimizing the customer journey.
Prediction 5: Nostalgia Will Play A Role In Toy Purchases
Social media mentions for old school toys are booming. Parents buying for their children might be more tempted by the items that remind them of their childhood (think Nerf Guns and Super Mario Brothers).
Absolunet says: If you are selling nostalgia-producing products, you are in luck! If you aren’t, consider adding a dose of “throw-back” into your holiday messaging with old school fonts in your social media messaging or ad runs.