The 2021 holiday season was a time of great celebration as families and close friends were finally able to (carefully) get back to spending the festivities together post-COVID. This year, it appears that people are ready to kick that up a notch as they get back to larger parties and other holiday events with bigger groups. As recently reported by ModernRetail.com, 77% of people plan to gather in groups this season, up significantly compared to 65% planning to celebrate only with immediate family in 2020. Additionally, 29% of those surveyed are planning to host a party and 61% answered “holiday parties” when asked what kind of celebrations they missed the most.
2 min read
2 min read
The sudden spike in online shopping in the early days of the pandemic has some experts maintaining that eCommerce’s penetration of usage was propelled ten years into the future in a matter of a mere three months. (McKinsey). People who had never shopped on digital platforms had no choice but to purchase online as stores, restaurants, and warehouses shut down. In the first year of the pandemic, e-commerce sales rose by 43% - $571.2 billion in 2019 to $815.4 billion in 2020 - according to the U.S. Census report. It’s clear that perceptions about online shopping have shifted dramatically across all generations as more people are now open to it than ever before.
4 min read
With anxiety around the COVID virus on a downturn, shoppers were back to hitting the stores in person again earlier this year - until, of course, inflation hit a 40-year high this spring. Retail sales were less than expected in April and fell by 0.3% in May. As summer heats up and consumers grow anxious to return to leisure travel again, experts predict consumers will pull back on big-ticket retail items, like electronics, appliances, and clothing in order to afford rising gas and food costs. As prices increase with the temperatures, consumers will have to make some sacrifices and it looks like the retail industry may bear a lot of the brunt of impending customer spending cuts.
2 min read
For months, retailers and marketers convinced customers to start their holiday shopping early to avoid the stress of limited inventory – thanks to the highly reported supply chain delays. Black Friday and Cyber Monday became month-long events instead of the usual post-Thanksgiving whirlwind weekend of deep discounts. Early reports show a continued rise in spending, but with a slight slowdown in November due to this earlier start to the holiday rush.