The Golden Quarter, which runs from October to December, is jam-packed with Christmas 2022 and other related events.
Many people are interested to see how this year’s Golden Quarter will compare to prior years given the shifts in consumer behavior brought on by the pandemic and the omnichannel revolution. Will customers’ Christmas 2022 buying habits change? What effects will this have on merchants’ plans for promotions?
Spending is downtrend
People won’t be spending as much because of the current economic climate. 25% of consumers are predicted to spend less on apparel and footwear, which might result in the highest drops.
For instance, it is predicted that holiday gift spending in the US will decline by $30 billion as 58% of consumers reduce their non-food holiday expenditures.
Despite these less-than-optimistic forecasts, many shops remain confident that customers will return and be prepared to spend this holiday season. Additionally, even while some forecasts indicate that overall sales would be roughly flat or slightly up from last year, this could also be the result of increased inflation.
Technology is still important
During the busy Christmas 2022 season, many firms attempt to scale customer care using chatbots and other technologies, but customers prefer humans. Most consumers preferred speaking with a live agent, closely followed by online communication with a live agent. In 2022, technology will still be crucial, but it won’t be the entire answer. Still, human interaction distinguishes brands.
It’s important to strike a balance between technology and human connection during the busy holiday season while also providing agents with the necessary staffing and supplies to assist clients.
BOPIS (buy-online-pickup-in-store) will be prior
When consumers are keeping an eye on their finances, BOPIS (Buy Online, Pick-Up In-Store) offers certain indisputable benefits. With peak season surcharges thrown on top, the price of home delivery during the holidays quickly mounts. To save money, we may anticipate that more customers would use in-store pick-up options in 2022.
Before the busy season, store-based merchants are acting quickly to increase their BOPIS (Buy Online, Pick-Up In-Store) capabilities. Additionally, more store-based pick-up equals more foot traffic, which increases the likelihood that more sales will occur throughout the holiday season at your shops.
The holiday season for shopping is becoming longer
Customers are beginning their holiday shopping sooner in 2022 in an effort to get ahead of limited budgets and spread the financial load over more paychecks.
The season of holiday shopping has already started since a lot of shops are reducing prices to get rid of stuff due to record-high inventories and wary customers. Major retailers are also promoting early sales to go along with that.
To avoid overwhelming customers throughout the protracted holiday season, brands must be sympathetic and understanding. This entails providing customers with individualized service and experiences to make their life easier, whether they shop in late December or October.
Online sales will increase
Nobody should be surprised that internet sales will dominate in 2022, as Adobe projects a 2.5% increase from November 1 to December 31. Online shopping is still essential, but it has lagged behind growth in recent years due to early pricing and economic uncertainties.
Brands must focus on designing an intuitive, practical, and personalized online and mobile experience. Customers investigate products even for in-person transactions online, so the customer experience begins when they look up your brand online. There has never been a more crucial time for the internet experience, including a customer’s initial search results and reviews.
After a favorable or negative experience with customer service, around half of customers leave an online review. This implies that every client connection your brand has is amplified and probably shared online with a large audience.
In conclusion, merchants may improve the consumer experience and remove friction from the purchasing process by investing in more flexible retailing. Contact us for the best preparation for your upcoming Christmas 2022 holiday sales.