After the government’s latest lockdown update at the weekend, seeing upcoming closures to non-essential retail until 2 December, the next month or so will undoubtedly see a huge shift as consumers return to purely online purchases. 2020 has been a year unlike many others and, whilst we refuse to use the word “unprecedented”, it’s hard to predict exactly how this further lockdown scenario will affect retail’s Golden Quarter. However, with consumers at home and lacking much variety of entertainment, will this affect Christmas shopping and will it mean that people start to shop earlier this Christmas?
We gathered the latest reflections, stats and industry comments that provide some reflection on the quarter ahead.
In October, the BRC (British Retail Consortium) called for consumers to start their Christmas shopping early so that retailers and logistics providers aren’t too overwhelmed.
In fact, Kirsty McGregor, editor of Drapers, said in her column last week: “Some brands tell me they are operating at online sales levels they were not expecting to reach for another three to five years. Online operations are already stretched and there is widespread concern in the industry about distribution capacity in the run-up to Christmas.”
Whilst time will tell if consumers demand continues to rise to such dizzying levels, retailers must ensure that they’re running at optimum capacity. Is your product content ready for peak trading? OMIO PIM’s cloud-based, SAAS solution is quick to implement and helps your teams to effectively manage product data. Click here to watch our videos explaining OMIO PIM’s five-step process.
Retail Assist’s Annual Black Friday Research
We can’t quite believe that it’s come around so quickly, but it’s time again for our annual Black Friday survey! In 2019, around 58% of people said that they planned to shop Black Friday – will this be the same for 2020? This year, we want to know if lockdown has changed your approach to Black Friday and Christmas shopping: the survey is super speedy (most people complete it in under a minute!) and we’d love it if you could take part. Click here to access the survey.
We’ll also be sharing our insights and findings on the Retail Assist blog. Click here to read last year’s stats.
Online Shopping Increase
Rather unsurprisingly, this year’s Christmas shopping looks set to be a more digital affair. Personalisation platform solution, Fresh Relevance, worked with Censuswide and polled 2,000 nationally representative UK consumers; they found that more consumers plan to shop online this year on marketplaces like Ebay and Etsy and also on pureplay online retailers, which is an increase of 3% from 2019.
Their research also found that whilst Covid-19 hasn’t caused a seasonal shopping shift towards Amazon, it could still account for a fifth of consumer purchases, with 21% of consumers planning to do the majority of their gift purchasing on Amazon this year, compared to 20% last year.
All of this research highlights why it’s more important than ever to ensure that your products are on a variety of digital platforms. With OMIO PIM, our in-built connectors mean that you can easily test new digital markets so that your products are found at the right place, at the right time.
We’ve partnered with Fresh Relevance on our webinar, which explains how you can increase efficiency with effective collaboration. Taking place on 5th November at 10am, book your place here.