2024 Holiday Shopping Trends Retailers Must Know

We are on the verge of the holiday season, and most Americans have started their shopping spree. A report shows that 34% of consumers plan to use social media for their holiday buying journey. The same report shows that around $1,455 in expenditure is expected per consumer in 2022. 

Although there is a recessionary scenario, many U.S. shoppers are yet to control their purchase cravings. There was a growth of around 8 to 9% in Chase card spending on a CAGR basis of 3 years in the 3rd quarter of 2022. As a result, purchases in the non-food categories increased. Hence, retailers must remain on the front seat in handling retail deliveries and take advantage of holiday shopping.

Holiday Shopping Trends for Retailers to Look Out For 

Here are the primary findings that will help you remain updated about the holiday shopping trends:

• Around 31% of holiday shoppers who purchased gifts for friends and family in 2021 using their credit cards still have dues. Despite this, most of the holiday shoppers will use their credit cards this year. Close to 3/4th of the holiday shoppers of 2022 have said that they will use a credit card to pay for holiday gifts. On an average, this roughly comes to $664.

• High inflation has impacted the approach of some buyers in terms of gift-giving this year. A majority of holiday buyers plan to consider the inflation landscape when buying gifts. For example, many of them will shorten the amount of purchase per person, unlike in the past when they would buy freely.

• However, this doesn’t change the fact that pressure works just fine for shoppers to spend above their budget. More than 43% of holiday shoppers feel the pressure to spend more than they’re comfortable with, in 2022. This explains the reason behind 11% of shoppers buying gifts using cash advance apps and 7% of them using payday loans.

• It is predicted that online sales will be prevalent in 2022. Around 2.5% of growth in online sales is forecasted between 1st November to 31st December.

How can You Level Up Holiday Sales in Your Business? 

Holidays are the best times for people to show love towards their near and dear ones. So, retailers should be on their toes to make their businesses profitable and delight customers. These key tips will help you make the most out of this time:

Prep your website for holiday traffic surge

• It is common to see an influx of traffic to your website when there’s a peak in seasonal demand. However, online shopping prospects on holidays look quite impressive this year. Close to 30% of retail sales made globally will be via digital channels. So, there will be a new paradigm in e-commerce market penetration.

• A sudden surge in traffic can also create mishaps for your website. So, as you put your digital channels at the forefront, you must override the existing standards. Start by implementing strategies to prep your website and mobile apps to handle the upcoming increase.

• Mainly, you should focus on keeping your app and website from crashing down due to heavy traffic. As the Christmas shopping spree is going to rise, ensure that your pages are not heavy, as this can frustrate your potential customers. Also, keep maximum payment options and refrain from keeping higher prices.

• You can use website speed testing tools like Google’s PageSpeed Insights or others to see where you need optimization and improvement. Additionally, update your mobile app and try to enhance the user interface to ensure a comfortable experience during checkout. 

Keep a check on your inventory

• A report shows the average daily sales of over $1 billion during the holiday season of 2019 in the US. Managing inventory can be stressful. The most important aspect of boosting holiday sales is to keep ample amounts of popular items in stock.

• An inventory management software will help you maintain the needed items. It will also notify you when there is little or excess stock past a certain threshold. It also provides reports so you can view the history of sales. 

• With the help of this software, you’ll be able to find out the products that are yet to reach the expected sales goals. This way, you can think about offering discounts on them to increase your sales numbers. You can also integrate multiple warehouses and points of sale locations into one inventory management system.

Boost Your Deliveries This Holiday Season with Upper Route Planner

Ultimately, it would help if you had a better way to plan deliveries so your business comes out as a winner this holiday season. When customers spend money on their loved ones, it is your job as a retailer to make their holiday count with super fast deliveries. With Upper Route Planner, you can enjoy the benefits of a hassle-free delivery process and driver management.

• You can add addresses manually or through our excel import feature and dispatch routes to drivers with a single click.

• Sending customers notifications about their parcels is a beneficial way to keep them assured about their parcel delivery. 

• Upper helps you plan the best and fastest delivery routes for your drivers and reduce your expenses on transport fuel. 

• Another key feature is proof of delivery. It allows drivers to collect e-signatures, take photos, and add delivery notes. This builds loyalty and keeps your drivers accountable for their performance.

Conclusion

Regardless of high inflation, a holiday is the most important and memorable time of the year. And no one wants to keep it minimal. Finding an item at a reasonable rate and getting it on time makes shoppers your happiest customers. So, getting prepared before the season and adopting these solutions will help you boost profits in your business. 

As a retail delivery business, you need something extra to keep your daily operations under control. A route planning software that comes with API integration and advanced features like multi-stop route optimization is your go-to solution. Get Upper as your route scheduling companion and start dispatching the best routes in less time. Take the 7-day FREE trial today.