Holiday shopping is being transformed this season. Maybe its because Thanksgiving day and the first day of Chanukah were on some cosmic collision course. Or maybe’s its just because greedy retailers decided to launch Black Friday a half day early. Whatever the cause, it’s clear shopping patterns are changing.
1. Cyber Monday kicks Black Friday’s butt
According to the IBM Digital Analytics Benchmark, more consumers shopped online the Monday after Thanksgiving than on Black Friday. Online receipts rose 20.6% compared to 2012 Cyber Monday sales. Another estimate provided by Adobe’s Digital Index reports that Monday sales totaled $2.29 billion this year, up 16% from a year ago. The best part of Cyber Monday is most of the customers aren’t even getting the day off.
“There’s nothing like using your employer’s time to do the shopping instead of fighting with the mobs at Walmart and everywhere else,” adds Henry Blodget, editor of The Business Insider.
2. Teen Spending Is Ticking Up
Analysts say teen holiday spending is on the rise. Things like mobile devices, beauty aids and lingerie are on their wish lists and shopping lists. Victoria’s Secret’s Pink line for college girls is part of this, according to Bloomberg Businessweek. Overall lingerie sales are topping $11 billion a year.
3. Santa Strikes Oil
Today, olive oil is no virgin. Olive oil bars are popping up all around the country, according to American Way in-flight magazine. Driven by the popular Mediterranean diet, olive oil’s health benefits make it the perfect stocking stuffer. Instead of roasting those chestnuts over and open fire, consider sautéing them in olive oil. Just an idea.
4. Up on the Rooftop, Click, Click, Click
Another big category this Christmas is technology. According to the Consumer Electronics Association, 35% of the Brown Thursday and Black Friday purchases were technology and electronics. From tablets to smart watches like the Pebble or the Sony Smartwatch2, Santa has his hands full. But as brick and mortar Best Buy stores continue to suffer, the tech giant is focusing on improving their customer’s online experience. They have made more than 200 changes to the Best Buy online store. The number of clicks to make a purchase has been cut down to three and they are offering a store pickup option to add utility to their local storefronts.
Today’s consumer continues to change and we see these changes radiating through the retail market. Today’s savvy retail marketer needs to be agile, ready to zig when the customer zags. Otherwise, their retail business’s cash register’s bells may not be jingling this Christmas.