While spending intentions on festive gifts have softened significantly versus last year, our latest ShopperScape data reveals pockets of growth with younger shoppers and parents. During this episode, Doug Hermanson and Todd Szahun share shopper spending intentions, key retail trends, and holiday forecasts that shed light on the complex drivers heading into this year’s festive season. Action items for your organisation include:
Key takeaways include
- Plan for earlier-than-expected sales: As retailers finalise and reveal their festive promotional calendars to shoppers, manufacturers must quickly refine their forecasting, supply chain logistics, and alternate capacity plans to ensure they can maintain stock and visibility throughout the holiday season without disruption.
- Prioritise ecommerce and alternate fulfillment methods: Ecommerce will continue to accelerate this festive season, placing even more importance on your ecommerce visibility, product detail pages, digital retail media, and smart promotional and pricing strategies. Invest in last-mile delivery partners, and alternative fulfillment like kerbside pickup.
- Practice an agile approach to commerce: As much as COVID-19 presented some unplanned challenges, so too will this holiday season. To win in 2020, retailers and brands need fluidity and flexibility. Sharpen your ability to adjust in real time, flexing supply, sales, and media to help minimise lost opportunities this festive period.