Like the rest of this year, the 2020 holiday shopping season will be like no other. The holiday shopping season has started earlier than ever, with deep discounts starting well before the usual Black Friday kickoff. Uncertainty and the impact of COVID-19 have driven consumers online, but research will be omnichannel as they look for value and inspiration. McKinsey & Company surveyed over 3,500-holiday shoppers in the United States, the United Kingdom, China, Germany, and France to help retailers understand this season’s shopping behavior during the pandemic.
- More than 60% of consumers globally have changed their shopping habits and intend on sticking with them.
- 37% of consumers plan to shop more online this year, but they will look to multiple channels for gift inspiration.
- 40% of consumers have tried new brands during the pandemic, and that behavior will continue over the holiday shopping period.
- Only 12% of consumers indicated they will shop from the same retailers and brands as they did last year.
- 31% of consumers say social media could trigger a gift purchase.
- 25% say personalized campaigns could initiate a purchase.
- 39% will spend more than last year on special shopping days.
- The top three reasons for choosing a retailer are: 48% better pricing or promotions, 44% better value, and 33% shipping and delivery costs.
- Top shopping days consumers plan to participate in: 56% Black Friday, 43% Amazon Prime Day, 39% Cyber Monday, 38% Pre-Christmas Sales, and 26% Singles Day.
- 33% of people plan to shop earlier this year.
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