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Key Insights: Retail giants closed on Thanksgiving 2020, ecommerce set to see the biggest shopping season

30-second summary:

  • The golden hours for customer acquisition are chiming with the much-more-talked-about holiday season.
  • With Walmart, Target, Home Depot, Best Buy, Kohl’s, and other retail chain giants announcing that their stores will be closed on Thanksgiving 2020, ecommerce will champion holiday season shopping.
  • Despite the fact that American households with <50K to the ones minting 100K+ per annum have shrunken holiday spending they’re looking out for brand promotions and deals.
  • Android devices predicted to surpass one billion hours on shopping apps.
  • Q4 2020 is positioned to see the largest ecommerce holiday shopping season despite all the crunched budgets.
  • Is this a curious case of a confused concoction? Or are you missing something in the mix? Let’s find out.

It’s already September, congratulations on making it this far! We have kept a real-time eye on the market movement to help businesses pivot, survive, and even thrive in the face of the pandemic. The golden hours for customer acquisition are chiming with Thanksgiving 2020 and the much-more-talked-about holiday season. This week’s key insights aim to help you “channelize” and “mobilize” these opportunities.

Holiday season: A concoction of contradiction

Fresh data from mobile market data and analytics platform, App Annie shows that unemployment rates in the US are currently 2X higher than pre-COVID-19 times. American households will have way lesser liquid cash and higher price sensitivity.

In relation to the same, eMarketer discovered that upper-income US consumers have made the biggest spending cuts and intend to spend on certain categories once things are “back to normal”. Buying clothes, vacationing, and buying electronics some of the top things thrown to the back burner – these are even for all the income groups right from houses with <50K to the ones minting 100K+ per anum.

The chart below helps understand the categories that your business niche falls into.

On the contrary, 2020 Q4 is positioned to see the largest ecommerce holiday shopping season. What are you missing in the mix? Find out.

Our Pulse Survey observations: Top technologies in Advertising & Promotion

As per our earlier key insights article, mid-August showcased the top 12 technologies in the marketing technology space, Advertising & Promotion stood at position three as a category.

However, our latest data shows Advertising & Promotion accelerated to position two towards August end. 

Consumers are anxious and look towards brands for comfort in the form of deals and promotions. This is the time brands must cater to their customer base. In light of which we’ve highlighted the technologies marketers have been keen on evaluating or investing in for the “Advertising & Promotion” category (August):

  1. Search & Social Advertising
  2. Mobile marketing

Walmart, Target, Kohl’s closed doors on Thanksgiving 2020 will open ecommerce’s greatest window of opportunity

Since 2020 has brought avant-garde curtains, it’s poetic justice to share that ecommerce might see the biggest mobile shopping season in Q4. With Walmart, Target, Home Depot, Best Buy, Kohl’s, and other retail chain giants announcing that their stores will be closed on Thanksgiving 2020, ecommerce will champion holiday season shopping.

App Annie’s data predicts a trend that Android devices will surpass one billion hours on shopping apps. This is a 50% increase from Q4 2019.

App Annie predicts 1 billion hours on shopping apps for Thanksgiving 2020 and rest of holiday season

Retailers can not afford to ignore the power of Prime Day

Prime Day will take center stage during the shopping frenzy as holiday shopping won’t be solely driven by Black Friday and Cyber Monday. Why? Because 76% of Americans use Amazon making their famous Prime Day will be a key addition to Black Friday and Cyber Monday.

Amazon cross app usage USWe’ve created a playbook to help you formulate a winning ecommerce playbook, activate more purchases, and bump up sales during Q3 and Q4 2020.

ClickZ readers’ choice for the week

Readers have been deriving strategies for Q3 and Q4 ecommerce sales through our weekly key insights, B2B marketing, and the bright side of the death of third-party cookies.

  1. Key Insights: Ecommerce, customer loyalty, the playbook for Q3 and Q4 2020
  2. Four steps to ABM fueled targeting for B2B marketers
  3. Why marketing will improve thanks to the death of third-party cookies

The post Key Insights: Retail giants closed on Thanksgiving 2020, ecommerce set to see the biggest shopping season appeared first on ClickZ.

Reblogged 1 week ago from www.clickz.com

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