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The Growing Trend of Early Shopping
A recent Gartner survey reveals that 32% of American consumers plan to start their Christmas shopping between July and October, indicating a shift towards earlier purchases. In comparison, 29% of customers plan to start shopping in November.
This behavioural change presents an opportunity for e-commerce businesses to engage customers well in advance. Major retailers like Amazon and Target are already promoting autumn sales events such as Prime Big Deal Days and Circle Week.
Inflation’s Impact on Wallets
The survey also sheds light on how inflation is affecting shopping behaviour. Only 14% of respondents plan to increase their Christmas shopping expenditure compared to last year, whilst 21% intend to economise and 64% expect to maintain the same level of spending.
According to 75% of respondents, higher prices, rather than increased disposable income, are the main reason for higher Christmas expenditures.
Source: Gartner
Online Shopping and Hybrid Services Season in the US
Fortunately for e-commerce, online shopping remains popular among consumers – 20% of consumers plan to increase their online purchases this year. Additionally, 57% of respondents intend to use hybrid shopping services such as buy online, pick up in store (BOPIS), curbside pickup, same-day delivery or expedited delivery.
Whilst some delivery options may not be as widespread in other regions, they can serve as inspiration. It’s also a reminder for e-shops that ensuring visibility and availability is crucial. Customers value convenience and flexibility – especially for Christmas shoppers.
Product Returns
An increasing number of consumers, particularly younger ones, prefer extended return periods. Gartner’s data shows that over 70% of customers under 40 would appreciate more flexible return deadlines that extend beyond the traditional 30-60 day period.
E-commerce companies offering extended return periods during the Christmas season could see higher conversion rates and customer satisfaction.
Kassi Socha, an analyst at Gartner, advises retailers to start planning for the Christmas season as early as the first quarter and continuously refine their marketing strategies.
“This strategy allows marketing teams to consider early consumer insights and market analyses, ensuring that the hypotheses they set at the beginning of the year meet the expectations of their target consumers,” Socha states.
