How Will The Pandemic Influence The Christmas Business This Year?
A large number of the most famous Christmas markets have been canceled. Cities are working flat out on options, while the states are imposing a lockdown for Christmas. There is still uncertainty as to the extent to which concepts can be implemented this year. Conversely, only vague assessments can be made about the number of visitors to the events. One thing is clear: this year it will be much more difficult to attract customers to stationary stores. The uncertainty caused by the recent increase in the number of COVID diseases predominates in many places and reduces the desire to shop in stores or malls.
So it’s no surprise that the 2020 Christmas business this year will be heavily influenced by the pandemic. Since March 2020, it has been conducting surveys into the effects of the pandemic on purchasing behavior.
The Upcoming Christmas Business
With regard to the upcoming Christmas business, 52% of the respondents in the last survey wave of the consumer test stated that they would rather avoid the crowded cities this year. 41% will do most of their shopping online. Compared to last year, the share of Christmas shopping that is done online is even expected to increase by ten points, from 35 to 45 percent. This means that almost every second Christmas present would come from the internet and online trading would be on a par with stationary retail!
The online shift, which was already evident in spring, will continue to prevail towards the end of the year. The Christmas business 2020 will therefore be the most digital phase that we have seen so far. For retailers, this means: If you don’t have an online shop yet, you should set up one as soon as possible and consider whether you should also offer certain sales with one of the established platforms.
Even if online stores have been popular since the pandemic, this year’s Christmas business will not be a sure-fire success. The competition is getting bigger than ever and customers are spoiled for choice. According to a study, consumers are mostly loyal to the retailers they know, they are still open to new ideas: 20% said they were open to new brands and providers. Sometimes the price determines most purchase decisions. However, according to recent developments, the question of the cheapest offer is becoming less important. The availability of sales is now seen as much more important. Availability is therefore at the new price, especially that consumers do not accept delivery bottlenecks and expect the order to be delivered on time.
In addition to the mere availability of products, product data and evaluations are also of particular relevance. More and more customer journeys begin online and especially with the well known search platforms. In the context of increased competition and the ever lower threshold for consumers to switch brands and retailers, data, descriptions, images and reviews are essential. They increase the opportunity that the customer journey that has started will also end with them.
Customers Should Be Influenced
In order to be able to influence the purchasing decisions of customers in the tough online competition, it is important as a company to understand the changed needs of customers and to offer them online the most unique buying experience possible.
