The 2015 holiday shopping season is already off to a record breaking start and it’s only going to get crazier. With the Jewish holiday of Hanukkah in full swing and Christmas only two weeks away, shoppers are feeling the pressure to make buys and find the best deals possible. Holiday shopping seems to begin earlier and earlier every year which is why Black Friday has truly become more the half way point of the shopping season as oppose to the start. However, some consumers know waiting for the end of the shopping season may be most beneficial as both consumer and retailer look to make a final push in these coming days.
It was noted by Adobe that online sales will be the highest on record thus far. Even though brick & mortar stores are the work horses for retailers with generating foot traffic and revenue, online shopping has increased significantly this year. On December 7th alone (One week after Cyber Monday) an estimated $1.92 Billion was spent which is $200 million more than what was spent on Thanksgiving Day. A prediction made by Adobe hints to another big spending day for online retailers on December 14th (Next Monday). It is forecasted that $1.95 billion in sales will be generated that day. Why the big push for online you may ask?
Apparel is the biggest driver along with electronics in the online shopping trend. Flash sales, free shipping and convenience are the biggest reasons consumers are looking to online so heavily. Based on apparel, the average purchase is valued at $110 since Cyber Monday. Since November first, $48 billion has been spent online. With all these online sales, free shipping and ideal return policies, how could this online trend slow down?
Well online sales are expected to dim after December 15th when shipping rates are expected to spike 15% or more. These costs on retailers will be passed on to consumers making customers deter from buying online. Shipping will then spike again reaching above 15% after December 20th to get orders completed and shipped in time for Christmas Day. After early next week, customers will return to their old ways of going to physical stores to complete their shopping lists. In the meantime, retailers should keep tabs on their systems to ensure there are no issues for the final online push. It would also be beneficial to make sure stores are ready and set for the last stage of this year’s holiday shopping season.