By Patrick Burnson, Executive Editor ·
December 2, 2019
This week’s “Cyber Monday,” was expected to become more meaningful than “Black Friday” for supply chain managers, says a new report.
Analysts add that since Thanksgiving was later than usual this year retailers have been gearing up for a shorter holiday season.
Furthermore, say analysts, 53% of the Deloitte 2019 Holiday Retail Survey respondents plan their holiday shopping around Cyber Monday, versus the 44% who plan around Black Friday.
Deloitte’s annual holiday economic forecast estimates that holiday retail sales will increase 4.5–5 percent this year. E-commerce holiday sales are projected to grow 14–18 percent over 2018.
Their 34th annual holiday retail survey findings corroborate this forecast: Consumers seem bullish about the economy this year and their household financial situation, as reflected in their spending plans for the coming holiday season. And consumers again plan to shop online as their preferred holiday channel, with online purchases expected to account for 59 percent of consumer holiday spending.
Consumers want to keep the good times rolling. In this year’s survey, we explore consumer sentiment and planned shopping behaviors to understand what consumers seek in this holiday shopping season.
The 20 percent in the high-spender category (those spending $2,101 or more) will account for 60 percent of the total holiday spend, and is especially keen on experiences. In order to win the holidays this year, high spenders should be a priority for retailers—especially those offering experiences.
“From a digital shopping perspective, smartphone use for purchases is rising while other digital devices remain constant,” notes Rod Sides, vice chairman and U.S. leader for Deloitte’s Retail, Wholesale & Distribution division. “This is the season, then, for retailers to continue to innovate with individual store apps, creating seamless experiences from online to in-store.”
Data privacy remains a concern, but our study results show that consumers are more open to sharing data if retailers provide them with data access and control.
“This willingness to share increases when offered better pricing or discounts,” adds Sides.
December 2, 2019
About the Author
Patrick Burnson, Executive Editor
Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [email protected]
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Supply Chain ·