This is how retailers can prep for a shorter holiday season.
Retailers are understandably concerned about this year’s shortened holiday shopping season. Whereas in 2018 Thanksgiving fell on Nov. 22, this year, the holiday will occur a week later, on Nov. 28. A late Thanksgiving will have a significant effect on the shopping period and retailers will have a smaller window to drive sales. Last year, retailers had five weekends and 33 days between Thanksgiving and Christmas. This year, they’re down to four weekends and just 27 days.
Extended reality, or XR, formats like VR and AR are great examples, especially for showrooming products. In fact, between 70 percent and 80 percent of shoppers say they’re eager to try visualization and other tools for holiday buying. Connected TV, or CTV, streaming audio and digital out-of-home also show great promise. Savvier brands can turn to these new types of inventory as others — linear TV and radio, UGC platforms and others — become saturated.
According to Forrester, last year smartphones were used across one-third of all U.S. retail purchases, contributing more than $1 trillion in sales. Mobile buying drove nearly 70 percent of all e-commerce during the 2018 holiday shopping season. To be successful, retailers need to get in front of these consumers. But what’s the best way to reach them?
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