As the holiday season quickly approaches, businesses are stepping up their operations to ensure they capitalize on the lucrative spending habits of US consumers. According to Samir H Bhatt, in order to make informed decisions on how to strategically market and prepare for holiday shopping, companies must understand how Americans like to shop during the holidays. Information about current and past trends of holiday shopping behavior across different regions in the country can give your company a crucial edge when it comes time for seasonal sales. Read on to get an up-close look at some of the key trends in US holiday shopping this year!
Samir H Bhatt Lists The US Holiday Shopping Trends
The US holiday shopping trends are highly sought after by many retailers and businesses, says Samir H Bhatt. This is due to the fact that during the holiday season, Americans often spend significantly more on gifts than they do in other months of the year. This trend is seen across different sectors, ranging from clothing, electronics, home goods, and even food.
One key area of interest for retailers is online shopping. With a much faster delivery time as well as convenience for shoppers, this segment has grown exponentially over the years. According to a study conducted by Deloitte in 2019, online sales in November and December accounted for 16.3% of overall retail sales (excluding auto sales), up from 14.3% the previous year. Furthermore, e-commerce sales in the US grew by 16.2% over the 2019 holiday season, with more than $143 billion in revenue.
For those shoppers who still prefer to shop in-store, discounts and promotions are often used to drive up store sales. According to a survey conducted by CouponFollow, nearly 80% of shoppers said they had visited physical stores during the holidays for great deals or discounts. Moreover, 30% of all shopping trips and 40% of spending during the holidays is done at discount stores such as Walmart or Target.
One example that demonstrates the strength of this trend can be seen in Amazon’s success during the recent holiday season. Thanks to its Prime membership program, which offers fast delivery as well as access to exclusive products, Amazon has been able to take advantage of this trend and drive up its sales significantly during the holiday season each year. In 2019, for example, Amazon’s sales increased by 21% from the previous year, with a total of $87.4 billion in US sales during November and December combined.
Samir H Bhatt’s Concluding Thoughts
In conclusion, it is clear that the US holiday shopping trends are highly sought after by many retailers and businesses. From online shopping to discounts and promotions in physical stores, there are numerous ways retailers can capitalize on this trend and make the most out of the holiday season each year. According to Samir H Bhatt, with these insights into US holiday shopping trends, retailers can make informed decisions on how they should approach this key period of time in order to increase their sales and maximize their profits.