To steal a line from Clark Griswold, we are about to embark on the “hap-hap-happiest” time of the year. I’m personally excited for the winter as the cooler weather sets in and we continue to get back to “normal.” As the vaccination rate continues to increase, my hope is that many of you are able to celebrate this holiday season with loved ones and friends.
Here are 5 trends to watch for this holiday season:
1) It could be a busy travel season – According to the CDC 58.9% of the US population are fully vaccinated while 68.6% have at least one dose of the vaccination. With travel bans being reversed, 30.6% of American travelers say they plan to travel over the Thanksgiving Holiday versus 12.9% last year.1
2) Consumers are ready to shop – As Santa checks his naughty and nice list, 55% of consumers are expected to shop before Thanksgiving, with 82% of respondents expected to shop before December. I am thankful for my wife, otherwise I would be with the 7% of respondents in January.
3) Consumers are expected to spend more2 – According to a survey conducted by Deloitte, high-income households are driving the uptick in holiday spending. Deloitte predicts 73% of shoppers will spend more or significantly more with an estimated 15% increase in experiences of revenge travel—a term used to describe the pent-up demand consumers have to travel.
4) Double digit year-over-year growth expected for retail commerce – Even with supply chain issues and shipping delays, the brick-in-mortar in-store retail sales are expected to grow by 7.9% with a 14.4% growth expected in retail eCommerce. Double digit growth is also expected on desktop and mobile, so a well-balanced media strategy and plan is important, as always.
5) Cyber Monday 2021 will be the No. 1 U.S. eCommerce shopping day ever3 – Ever since 2010, this online retail holiday sets record after record, and this year is no different. Five major retail holiday shopping days are approaching—Thanksgiving, Black Friday, Small Business Saturday, Cyber Sunday and Cyber Monday—and all are expected to see double digit growth, with Cyber Monday spend exceeding $12.12 billion