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Deloitte insights1/6/2024 It comes as no surprise that, in 2020 of all years, online spending would increase dramatically, with families being at home more often, intermittent shop closures across various countries and online retailers offering more deals, with the latter increasing as we near December. “Additionally, consumers are cutting back on the numbers of stores they visit, both virtually or in-person, making mass merchants the most appealing holiday shop.” “As the Prime week insights show, consumers continue to value savings and convenience,” says Rod Sides, Vice-chairman Deloitte LLP, and US retail, wholesale and distribution leader. During Prime Week, major retailers’ online promotions drove the share of digital shopping even higher and helped jump-start the shopping season this year as shoppers purchased items traditionally associated with the holiday season, including toys, games, electronics and sporting goods.” Jeff Simpson, leader, InSightIQ, and principal, Deloitte Consulting, elaborates on the outcome of the survey: “The InSightIQ analysis confirms that retailers’ strategy to accelerate holiday shopping was successful. An increase between 10-30% in online sales in the three weeks overall.The first two weeks saw an increase of 25% and 24% in online sales respectively.63% increase in website visits during the third week.Promotions like Prime Day saw an increase of 6% in spending in-store and online.50% increase in online sales during Amazon’s ‘Prime Day’ over last year.Some of the key takeaways from the report: ![]() Deloitte’s InSightIQ recently published a holiday retail survey for the first three weeks of October, titled “ Retail Insights for Holiday 2020: October Pulse”, with the intention of displaying customer behaviour, and specifically how customers may be spending in the coming holiday months by analysing consumer spending data.
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