Inc. Shares 3 Tips to Prepare for Holiday Season during Covid-19
Inc. contributor Bill Hobbs has shared three useful tips to help you prepare your business to get most from the upcoming holiday season during the testing times of COVID-19 pandemic.
He says, “Brands can expect the following 2020 holiday shopping trends.
Lower overall spend
Many consumers are facing economic uncertainty and financial stress, and they are likely to be more frugal in their holiday spending this year. Two in every five shoppers plan to spend less than they did last holiday season, according to Accenture’s annual survey. Deloitte has a slightly more optimistic view, predicting an increase in holiday retail sales between 1 percent and 1.5 percent, while Forrester forecasts that retail sales for the full year will decline by 2.5 percent.
More online shopping
It has been a tough year for the retail industry overall, but e-commerce is seeing explosive growth that is expected to continue. The pandemic has accelerated consumers’ shift to online shopping by roughly five years, according to IBM’s U.S. Retail Index”.
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