Holiday is around and many people are getting ready for the holiday shopping. Many of them are going to shop online but many others are getting ready to hunt their favorite items in shopping malls. Now the question is, “What are the 2018 holiday shopping themes?” This question may be important for seasonal retailers or for those who want to join the shopping mainstream this year.
3 Options of The 2018 Holiday Shopping Themes
Nobody knows exactly the shopping trends this year. The following are based upon the predictions:
Rise in Retail Sales
The National Retail Federation predicts that retail sales will increase by between 4.3% to 4.8% in November and December this year. This sector has been showing an increasing trend in the past five years, with average annual rise of 3.9%. According to experts, the consumers are more financially flush this year. As a result, they will shop more.
In addition, the NRF said that the rise in retail sales can be the result of rising job opportunities, rising wages, and increasing net worth of the consumers. According to Jack Kleinhenz – an economist at NRF – they are more confident to shop this year. This is actually not surprising. The 2018 has been flourished with the rise of many successful startups. Most of them offer retail sales.
Domination of Online Shopping
According to Deloitte survey, the 2018 holiday shopping themes will also include domination of online retail. More and more people will choose to shop online than in stores. The survey showed that 60% of the respondent would shop online for holiday gifts. On the other hand, in-store shopping will account for only 36% of the consumer spending.
Why do the consumers choose to shop online? They reported various reasons. Almost 70% of the consumers chose online retails as they offered free-shipping services. More than half of buyers shop online because of time savings and energy savings. These are the main reasons for the domination of online shopping this holiday.
After online retail, there are mass merchants. They will be the targets of 52% of online shoppers this year. This increases from 44% in 2017. Meanwhile, traditional department stores and retailers that offer discounted prices rank the third and the fourth in the list of shopping destinations this holiday.
The Down Trending of Baubles and Blouses
It is true that consumer products like clothes and household appliances still domination the holiday budgets for gifts. However, the trend has been decreasing in the past few years. A survey conducted by Accenture showed a decrease of 11% in the number of shoppers who planned to shop in brick-n-mortar shops. On the other hand, the number of shoppers who plan to shop online increases by 5%.
Another interesting trend is the shift in the kind of gifts provided to the loved one. In the past, most people chose to give clothes or home appliances as gifts. Meanwhile, the trend has been shifting to concert tickets, dinner out, or cleaning service.
In addition, millennial will be the biggest segment of shoppers this year. Therefore, the rise of young millennial as a potential market is one of the 2018 holiday shopping themes. So, which theme does affect your business?