It’s beginning to look a lot like holiday shopping season even though it’s not Halloween. You can thank evolving shopping habits, COVID-19, a delayed Amazon Prime Day, supply chain concerns, and crimped consumer and business budgets.
The moving parts are going to be enough to make Black Friday more of a 2020 retailing blip than the biggest shopping day of the year.
Simply put, the calendar is moving forward and households won’t have as much to spend. The winners will be Amazon, which is likely to deliver its biggest fourth quarter in history, and retailers such as Walmart, Best Buy, and Target that have mastered buy online pickup in-store and other digital sales tactics.
In addition, Amazon’s rivals are all planning sales around Prime Day. Those moves will just create a flywheel of demand that’ll minimize the importance of retail’s big holiday shopping days.
Like everything else in the Covid-19 world, holiday shopping in 2020 will be unlike anything you’ve ever seen.
Global online sales are expected to grow 30 percent to $940 billion year over year this holiday season–up from 8 percent growth in 2019–which could help retailers make up for lost revenue during the pandemic. That’s according to Salesforce’s 2020 Holiday Forecast, a report that parsedonline shopping activity of more than one billion consumers.
For retailers angling to generate as many sales as possible this holiday season, you have to be willing to possibly deploy new strategies, according to Rob Garf, vice president of industry strategy and insights at Salesforce. “Businesses that succeed during the holidays will use everything at their disposal to make shopping easy and safe, including convenient digital ordering, creative and effective fulfillment, and responsive customer service,” said Garf, during a virtual press briefing to discuss the forecast
Apple assembly partner Foxconn is pushing its “iPhone 12” production lines hard, with staff at the largest iPhone factory in China enduring mandatory overtime and canceled holidays to keep production running around the clock.
The “iPhone 12” has yet to be officially announced by Apple, but its supply chain is already working hard to meet anticipated demand for the new models. This includes Foxconn, a key assembly partner for Apple, which is trying to meet Apple’s orders as quickly as possible.
According to the South China Morning Post, the production push includes running operations at the Zhengzhou facility for 24 hours a day, as well as initiatives to make employees work for longer. Details revealed by employees, recruitment advertising, and local media reports reveal Foxconn is cancelling holidays previously arranged by workers, as well as requiring them to take hours of overtime.
While we await the National Retail Federation’s holiday retail forecast – which will come any day – Deloitte and Forrester are out with their predictions for holiday 2020 and year-end.
Big Four accounting firm Deloitte has a “glass half full” view, expecting a rise in holiday retail sales between 1% to 1.5%. On the other hand, market research firm Forrester looks and sees the glass half empty, with retail sales declining 2.5% for the full year.
Despite their differing forecasts, both firms are firm about one thing: this will be the year when online shopping explodes.
Online growth off the charts
Forrester sees online retail growing 18.5% this year, so that it will reach 20.2% overall penetration in
NEW DELHI (Reuters) – Samsung Electronics Co Ltd is expanding its online-only smartphone range, a senior company executive said on Thursday, as the South Korean tech giant hopes to win over new customers in India’s festive season sales.
Samsung will launch the new India-made Galaxy F range of smartphones at Walmart Inc-controlled online retailer Flipkart on Oct. 8, Asim Warsi, a Senior Vice President and Head of e-commerce Business at Samsung India, told Reuters in an interview on Thursday.
“The series is aimed to address the burgeoning demand among the young online shoppers in India,” Warsi said.
Indian customers make big-ticket purchases of everything from gold to cars and electronics in the holiday season, which typically begins around October and lasts until the end of the year.
“We are building up for a very buoyant and a very strong festive sales period this year and by virtue
Mobile devices used for shopping online (m-commerce) will experience substantial growth this holiday season. According to eMarketer, m-com sales will reach $314 billion in 2020 which is $200 billion more than four years ago and represents over 44% of all e-commerce sales. The pandemic has acted as a catalyst for older generations to adopt the technology as shoppers are worried about their safety and are reluctant to shop in stores. A recent holiday survey by the buy now, pay later company, Sezzle, found the older the shopper, the less likely they will be to shop in-store these holidays. Veronica Katz, CRO