Predictions for the COVID-19 Pandemic-hit Holiday Season
Massive hit on in-store shopping
1.The COVID-19 pandemic has resulted in a dip in in-store shopping.
2.51% of Holiday Shoppers feel anxious about in-store shopping. - 2020, Deloitte, Holiday Retail Survey
3.73% of customers are planning to have their items delivered vs. 62% in 2019. -2020 Deloitte, Holiday Retail Survey
Average shopping duration expected to reduce
4.The average shopping duration of customers this holiday season is expected to shrink by a week and half compared to previous years.
| Year | Average Shopping Duration |
|---|---|
| 2018 | 7.1 weeks |
| 2018 | 7.4 weeks |
| 2020 | 5.9 weeks |
Customers will value retail proximity and online engagement
5.Local stores and online shopping will bring in the holiday cheer
6.69% of customers prefer shopping at a store closer to their residence. -2020 Deloitte, Holiday Retail Survey
7.60% of customers prefer online stores rather than a physical store during the upcoming holiday season. -2020 Deloitte, Holiday Retail Survey
8.58% of customers prefer to travel 10 miles or less to get a gift from a retailer. -2020 Deloitte, Holiday Retail Survey
9.43% of customers prefer shopping at local retail outlets than national retail chains. -2020 Deloitte, Holiday Retail Survey
Longer Delivery Windows for delivering gifts
10.Due to the prevailing COVID-19 pandemic, consumers are willing to provide a breathing space for retailers to deliver gifts. Retailers must be clear about communicating order status, timing, and fulfillment alternatives.
11.9 in 10 shoppers (89%) are willing to give retailers extra time to deliver packages this holiday season. - Convey, Fourth Annual Study
12.74% of shoppers are willing to grant one or four extra days for delivery. 16% of shoppers are willing to wait five or more additional days for delivery. - Convey, Fourth Annual Study
13.58% of shoppers say that they are more likely to complete a purchase if Estimated Delivery Date (EDD) is visible in the cart prior to starting the checkout process. - Convey, Fourth Annual Study
New-found Importance of Omnichannel Shopping
14.To minimize their time spent in the store, customers may also pre-plan their shopping trip.
15.78% of Holiday Shoppers who visited a store turned to online search before going into a store. - U.S., Omnichannel Holiday Study, Holiday Shoppers who visited a store in the past 48 hours, Nov. 2017–Jan. 2018
An expected decline in spending intentions
16.38% of consumers plan to spend less this holiday season, a level that was not seen even during the financial crisis. -2020, Deloitte Holiday Retail Survey.
Why this drop?
17.50% customers are more concerned about the economic instability. -2020 Deloitte, Holiday Retail Survey.
18.40% prefer to save more instead of spending. - 2020 Deloitte, Holiday Retail Survey
Free shipping vs Fast shipping: Majority of consumers will prefer free shipping
19.Customers are willing to pay only minimal amounts for faster delivery options
20.85% of consumers prefer free shipping compared to 15% consumers who prefer fast shipping. -2020 Deloitte, Holiday Retail Survey
| Shipping options | Extra amount consumers are willing to pay | Percentage of consumers ready to pay this extra amount |
|---|---|---|
| Same-day delivery | $5.7 | 30% |
| Next-day delivery | $3.9 | 36% |
| 2 Day delivery | $1.9 | 60% |
| 3-7 day delivery | $0.5 | 88% |
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