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We know that COVID-19 has shifted the way consumers shop. Some of those shopping habits will not go away even as governments work to ease regulations. The new normal is already here.
Credit Suisse Group predicts COVID will result in “accelerating structural changes in consumer shopping, possibly by 5+ years, as they are introduced to new retailers and new shopping methods including online grocery and delivery, and further consolidate purchases at multi-category, multi-channel retailers.”
Every year the holiday shopping seasons seems to get bigger than the previous years. The 2019 holiday season saw retail sales rise 4.1% from 2018 to $730.2 billion, which is almost double the growth seen in 2018.
We will be discussing October as the big research month for shoppers. Its usually a time when they ramp up their search on e-commerce sites. November/December is the huge month where sales are through the roof.
We will also talk about January as one month where consumers will continue to spend. I believe more consumers are going to be gifted money/giftcards as a contactless gesture and they will be eager to spend in January.
Lastly, we will talk about Google’s new tool – Grow My Store, as one tool businesses can leverage to take action now. The new small business holiday hub is full of resources that businesses can use to prepare for the holiday. The mini-site contains personalized recommendations to assist businesses with reaching shoppers across Google Search, Shopping and Maps.