Forrester’s “US Online Holiday Retail Sales Forecast, 2012” launches today; in it, we predict that this November and December alone are expected to pull in $68.4 billion in online revenue, a 15% increase over 2011. We believe web retailers are well-positioned to benefit from this shopper spend if they realize that consumers are:
- On the hunt for deals. More than half of US online adults are more price conscious than they were a year ago. As the Web channel has become synonymous with value, retailers should expect consumers to be searching for deals through a variety of touchpoints, at home and in-store on mobile devices. Retailers need to prepare for aggressive holiday showrooming and the possibility of being undersold or being asked for a price match.
- Looking for free shipping. Fifty-seven percent of US online adults shop more with retailers that offer free shipping, and 27% add unplanned items to their cart in order to meet free shipping thresholds. Last year, 76% of the top 50 online retailers highlighted holiday deals on their home pages and 50% called out holiday shipping promotions. As price continues to be a top consideration for consumers, retailers must offer and prominently display holiday shipping promotions or risk losing customers to competitors that will.
- Shopping on key dates. During the 2011 holiday season, the top 500 retail websites saw holiday traffic peak during Thanksgiving, Black Friday, and Cyber Monday, each of which drove more than 170 million unique US shoppers to the Web, and they together accounted for more than $2.5 billion in total online sales. Forrester expects that this trend will continue through 2012.
How do you succeed in such a competitive holiday arena? Read the full report here for more information on this year’s holiday trends and what retail eBusiness professionals can do to capitalize on (what can be) the most wonderful time of the year.