It’s that wonderful time of year again, retailers! With the holiday shopping season right around the corner, we’ve compiled key projections for the peak season. Online and offline sales growth is expected to be the biggest we’ve seen in five years, with shoppers spending in different product categories and new technologies stepping onto center stage. Consider this:
- During the holidays, individuals plan to spend an average of $684 this year – a 10% growth from 2015 numbers
- The market total of holiday spending is projected to grow by 17% this year, from $108 billion in spending (2015) to $126 billion (2016)
- November is the biggest month for online holiday shopping, with 27% of shoppers buying gifts; October comes in second, with 23% making purchases
- With the implementation of omni-channel fulfillment options, more digital shoppers will continue buying gifts closer to the holiday knowing that their package will still arrive on time
- Mobile commerce sales are expected to increase by 43.2% by the end of 2016, with big sales coming at the year’s end
What are the attributes of this growth, and what will be different about the 2016 holidays? Our analysis explores continued mobile growth, diversifying product categories, and a shrinking gap between online and offline selling.