Research firm CBRE recently issued its outlook for the 2020 holiday shopping season. Featuring insight on the U.S. economy, new shopper habits and global insights, the data is a clear guide to the trends home improvement retailers should be on the lookout for throughout the remainder of the holiday shopping season. Explore the key trends below and learn more about CBRE’s breadth of research by visiting the firm online at cbre.com.
01 | Expect a longer shopping season.
Operators should set their sights on a longer selling season than the traditional five-day window between Thanksgiving in the U.S. and Cyber Monday. Many major retailers closed their stores on Thanksgiving and instituted social distancing, meaning retailers are unlikely to see a swell of shoppers in a concentrated timespan as in years past.
Instead, prepare for a steady flow of shoppers through winter.
02 | Prepare for a second e-commerce surge.
This winter, retailers can be certain that more customers than ever will be shopping online. CBRE projects 2020 holiday e-commerce sales growth to more than double over 2019. Be sure to use digital advertising and social media outreach throughout the winter sales season to net as many online sales as possible.
03 | Balance safety and in-store experience.
Retailers face a tall order this holiday season of keeping staff and shoppers safe while still fostering a memorable in-store experience. According to CBRE, some retailers are adopting an “in-and-out” shopping model where customers enter the store to search for products, but other transactions like payments and returns take place outside to reduce in-store traffic.
Source: 2020 U.S. Retail Holiday Trends Guide, CBRE