According to forecasts from experts at retail analytics company ShopperTrak, six weeks of the holiday season, traditionally considered the “golden” time for retailers, can disappoint sellers and shopping center owners. Shoppers are increasingly switching to online shopping and prefer to avoid crowded places, despite discounts and sales in physical stores. Retail store attendance is expected to decrease by 22-25% during this period, compared to last year.
Also, retailers should not count on days such as “Black Friday” or the Saturday before Christmas, which set sales records for many years. In 2020, a sales spike will be observed, but we are not talking about repeating the past few years’ results. According to forecasts, the busiest days of the holiday period, a total of 10 days, will bring in only 34.2% of the total holiday traffic. For comparison, in 2019, this figure was 46.5%.
However, even considering the expected decline in-store traffic, this year expects increased sales during the holidays. From November to January, sales in the period will increase by 1-1.5%, ranging from $1.47 trillion to $1.52 trillion. The main reason for this growth was the growing demand for online sales at a rapid pace.
To extend the holiday season, many retailers have already filled their shelves with Christmas goods. This year, before sales begin, Amazon will hold a day of discounts Prime Day from October 13-14, which is traditionally followed by other major retailers, including those who manage such large chains of physical stores as Target, Home Depot, and Best Buy.
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