With no sign of this trend slowing, it is important for the retailers to find what mattered most to consumers while shopping during the holiday season.
As the saying goes, it’s better to give than to receive! And as we know, there’s been a massive increase in online giving. Even after the global pandemic hit in 2020, consumers across the U.S. kept the spirit of giving by shifting to eCommerce, resulting in a 32.2% year-over-year increase from 2019.
With no sign of this trend slowing, it is important for the retailers to find what mattered most to consumers while shopping during the holiday season. In the consumer-centric global market, it becomes crucial for you as a retailer or an eCommerce brand to constantly be ‘on your toes’ to cope with the regular shift in consumer behavior. Things that mattered to the consumers just a year back may no longer be relevant.
One of the main things that remains unchanged is cost consciousness. However, while consumers are always looking for the best price, they also value brand loyalty. As mentioned in this article, 41 percent of more than 4,000 surveyed consumers are more likely to buy a holiday gift from a brand they love.
Here are some key takeaways of what really matters most to consumers:
Product Out of Stock (OOS) – If a product is OOS, consumers will often find what they’re looking for somewhere else. With increased volumes and a higher sense of urgency during peak season, the risk of OOS becomes amplified. Ensuring your inventory levels meet your sales projections, and your supply chain will prevent lost revenue.
Fulfillment and Delivery – Online shoppers often expect fast, on time, and free delivery. This doesn’t change during the holiday season. eCommerce retail studies states that 95% of shoppers say they expect free shipping, while only 67% are willing to spend more to qualify for this option.
Customer Service – During the holiday season shopping rush, you need to ensure efficient customer service to keep customers happy and loyal. Nothing is more important than making sure gifts are delivered on time and product expectations are met. Is your customer service team ready?
Responsible Retailers – Consumers are seeking responsible retailers to shop from during the holiday season. A survey by the NPD Group found that a retailer or manufacturer’s stance on social issues is likely to be a positive influence on consumers. Similarly, Accenture’s Holiday Shopping Survey found that 45% of respondents are more likely to shop with retailers that address social issues through their business practices and working conditions.
In another noteworthy 2020 holiday retail survey by Deloitte, price, product, and convenience remain top of mind for consumers. As a retailer or an eCommerce brand, you need to be aware of what matters most to consumers during the holiday season and prepare well in advance.
Partnering with a Third-Party Logistics (3PL) provider can help you focus on your core competencies, product development, sales, and marketing. Consumers are looking for your products – a 3PL helps getting it to them efficiently and cost-effectively. XPDEL is a leading hi-tech fulfillment and logistics service provider on a mission to enable growth for eCommerce companies.
XPDEL is an industry-leading 3PL provider powered by technology with data analytics at the heart of its operations and services. Founded and operated by industry experts, our advanced technology and well-connected network of fulfillment centers help us deliver superior customer experiences. Our in-house supply chain platforms, such as our Fulfillment Execution Platform (WMS) integrates with omnichannel sales strategies to provide the best experience for the end consumer.