Let’s kick things off by discussing the e-commerce holiday shopping trends you need to know about for 2023. These figures highlight the importance of e-commerce holiday planning so that you can maximize your revenue and profitability.
1. Spending is down. Unfortunately, a pessimistic outlook on the economy has caused consumers to dial back on spending. Consumers are expected to cut back roughly $30 billion. In particular, cutbacks are forecast in non-food spending on items such as footwear and clothing.
2. The holiday shopping season keeps growing. In the past, the holiday shopping season spanned a few days. Now, it spans weeks. Consumers are getting an earlier head start on their holiday shopping in order to cash in on deals and save last-minute rushes.
3. Online sales continue gaining traction. Adobe predicts that online sales will increase by 2.5% this year. That should be no surprise as online shopping continues to gain a foothold around the world.
4. Consumers are looking for a human touch. Despite the growing trend toward e-commerce, consumers are very much inclined to get a human touch. This trend means that retailers need to offer communication channels where consumers can interact with people, not just bots or FAQ sheets.
5. E-commerce sales are expected to hit a new high. Despite reduced spending, e-commerce sales are projected to hit $235.86 billion. That’s a pretty big pie with plenty to go around.
As you can see, there is plenty of reason for optimism, even if overall spending is down. The most important thing to keep in mind is that a good e-commerce holiday planning approach will help you reach your goals. Read on to find out how you can make this possible.