As we bring this holiday season to a close, it’s time to reflect on everything that brought us to a record year of growth for online holiday sales. As Covid numbers continue to skyrocket across the nation, some consumers choose to stay home and shop from the safety of their own home, while others are being forced to do this due to shelter-in-place regulations determined by their local government. Both put pressure on the eCommerce and supply chain & logistics industries to deliver a record number of products for a happy holiday season!
Holiday Consumer Trends in 2020
According to the National Retail Federation (NRF) survey in October, 96% of retailers polled expected their online holiday sales to increase and the consumers polled confirmed this assumption – more than 60% planned to shop online, up from 52% in 2019.
In addition, 76% of Thanksgiving weekend shoppers were purchasing gifts for the holiday and 54% of consumer holiday purchases were influenced strongly by sales and promotions at stores. It seems many were holding out to see if the promotions run in October and November would be better on thanksgiving weekend, but 53% said the sales and promotions were exactly what they saw earlier in the season.
Small Biz Daily highlights that 73% of consumers have tried new shopping behaviors this December and are more open to trying new stores and brands, whether they tried curbside pickup or delivery apps, new brands, or different retailers and websites. In addition to behaviors, the top growing online sales are in skincare, makeup and accessories, with household supplies trailing behind them.
What this Means for eCommerce
Covid has definitely left its mark this year and changed consumer behavior for the near future – whether its state regulated shelter-in-place lockdowns, essential vs. non-essential businesses, online shopping vs. retail shopping, or simply keeping the workforce healthy and able to make deliveries to consumers, there’s so many challenges and issues out of your control as a business owner.
What is in your control, is your ability to look back on this holiday season, and 2020 as a whole, to see what processes worked and areas of opportunity for your organization.
- Automation: drives labor costs down and increases capacity to fulfill new orders immediately without the hassle of hiring and training new staff. Also, it strengthens your backend processes so that you can deliver more product quicker.
- EDI: transactions with all retailers, suppliers and warehouses can drastically eat away at your profit margin, but a software that includes this in its monthly fee reduces costs.
- Inventory across multiple sales channels: without automated real-time inventory, this manual process is tedious and likely to cause over-selling or underselling with how fast consumers purchase across multiple sales channels.
One software can solve all of these headaches in one easy solution — OPAL. After this holiday season, treat yourself to a software solution that can automate and streamline your processes, while also saving you money with free EDI and reductions in labor costs.
Simplify with OPAL’s 4-in-1 Software Solution
EDI | Order Management | Warehouse Management | Shipping
OPAL is the innovative solution to simplify your small to mid-sized to enterprise business fulfillment needs in today’s rapidly transforming retail world.
To learn more about how to make your eCommerce business scalable with OPAL, click here!
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