December 9, 2020
Holidays season is here! At the same time, retailers are looking back at 2020, counting gains and losses, and thinking what could be done in the new year to ensure more stability, sustainability and safety.
We’ve talked about a new vision for retail businesses through an evolved use of technology in our Retail Reloaded series.
In the previous edition of Digital Retail Trends, we’ve mentioned the changes that will characterize this holiday season — less spending, in-store purchases, travel and events, and time spent shopping, as well as the major shift to online shopping.
Just like any other industry, retail is brimming with new ideas and innovations that are spurring the global digital evolution. Today, we will mention some of the most important industry news and look at the sales data of the #Thanksgiving weekend.
The Digital Retail Holiday Season 2020
This year's Cyber Monday is the biggest online shopping day in the U.S. history. Year after year, online sales (15% YoY growth) have been breaking the historical shopping records with this Thanksgiving weekend topping all those that came before. According to Adobe’s Retail Shopping Insights and e-commerce trends, total e-commerce sales over the entire Thanksgiving weekend amounted to $34.4 billion, with Cyber Monday accounting for $10.8 billion.
Infographic by Statista
Holiday season overload and pandemic-driven delivery delays. Holiday shoppers are worried that their ordered gifts may not arrive in time this year. Fear justified by the last year’s FedEx and UPS failures and this year’s boost in online shopping. Delivery companies are introducing strategies to prevent delays, but there are strong indicators that the extra load will be unmanageable. UPS is limiting deliveries from some commercial clients, while both FedEx and UPS have suspended their money-back guarantees for on-time shipping. Read more about Holiday shipping deadlines 2020 on Fortune.
Good news is that the the global autonomous delivery vehicles market is projected to be valued at USD 24.73 Billion by 2027, according to the Emergen Research. Its primary goal being to satisfy the growing demand for quicker contactless doorstep delivery in restaurants & food chains, as well as the retail sector. [GlobeNewswire]
Online holiday market designed to support small businesses. The innovative e-commerce company, Upmarket, introduces Virtual Holiday Village to enable shoppers to find unique, handmade gifts and support the local economy and small businesses.
Retail technologies, practices and trends to get ahead of in 2021. As expected, technology will play the crucial role moving forward, read about the four retail tech trends to watch in 2021 and get ready to lead in the digital retail world.
Many leading retailers see small-format stores as the future of retail. Small-format store combines technology with limited highly curated assortment. Many of these small-format experiences are offshoots of big brands. Big box retail giant Target led the way with better targeted store experiences in smaller spaces and the merchandize localized to the area or neighborhood. [Forbes]
Do you need to implement a digital dimension into your organization? Visit Retail Reloaded to find out how we can help you create and implement the most optimal digital strategy for your organization.