The 2021 Holiday season is going to be much different from the 2020 season. Industry experts forecast the Holiday eCommerce sales in 2021 will increase by a staggering 11.3%, anticipating at least $206.88 billion in revenue.
Though some consumer behaviors may remain, some peak season behavior adopted last year will continue to grow in 2021. Continuing to analyze current consumer behavior and market trends will become critical to success for eCommerce retailers
So, it’s time to start planning – experts say consumers will start shopping even earlier for the holidays. Are you ready for this year’s peak season?
Here’s a run down of interesting data and predictions for eCommerce retailers to consider while starting to prepare to face the peak season head-on:
Per this online report, eCommerce is estimated to contribute an all-time high of 18.9% to entire Holiday season retail sales.
eCommerce sales on Cyber Monday and Black Friday are forecasted to surpass $10.8 billion.
A significant 38% of shoppers say that they would start shopping earlier, starting in October, while 60% also said that they would also begin before December.
Order delivery is a crucial factor in an online shopping experience, with 72.7% of consumers saying they will not return after a bad delivery experience.
With an average return rate of 30% for online purchases, efficient return management will be crucial for eCommerce retailers. eCommerce returns in the 2020 Holiday season were estimated to total as much as $70.5 billion, a 73% increase from the previous five-year average.
Peak surcharge is becoming coined as the “new normal,” which burns quite a big hole in the pocket for eCommerce retailers during the Holiday season surge in sales.
More than 70% of consumers say convenience (77%) and free shipping (72%) as their top reasons to shop online.
Also, according to 97% of consumers, same-day shipping is considered “fast,” while 95% believe next-day shipping to be “fast.”
A recent Pulse survey by PwC shows that in just six months, from October 2020 to March 2021, consumers evolved to be even more digital and eco-friendly. They also reported being more price-conscious, healthy, data-conscious, and local
As presented by a report, 9 out of 10 consumers will stop purchasing from brands that lack transparency.
Now, armed with these eCommerce insights, do you feel like your business is ready for the peak season? The most efficient way to manage your orders is to partner with a competent Third-Party – leave it to the experts to take care of the shipping and logistics .
Now, armed with these eCommerce insights, do you feel like your business is ready for the peak season? The most efficient way to manage your orders is to partner with a competent Third-Party – leave it to the experts to take care of the shipping and logistics.
Original Source: https://xpdel.com/blog/are-you-prepared-for-the-peak-season/