Consumer Trends to Expect During the Holiday Period

As we enter October, we should begin to prepare for the holiday season (AKA peak season in eCommerce) and make sure we understand our customers and the consumer trends to expect this Winter. Shopping behaviours and trends have shifted a lot since COVID19, and this year we should expect to see huge changes to the market again. It is so important that your business adapts to trends in order to grow your business, as well as reaching as many customers as possible.

This blogpost will dive into some of the key consumer trends to look out for this holiday period, and your business should try and adapt to these as much as possible.

People are Spending Despite Inflation

Great news for all businesses, customers still want to spend (YEY)!

Despite inflation and the cost-of-living crisis, people are still spending money online. In 2024, Prime Day saw its highest year of sales in the company’s history (with a 10.4% increase). This shows that people are still willing to spend their money and during peak season businesses should still expect to see a huge spike in sales. There is a constant fear in business that consumers no longer have the disposable income to be shopping online, but Prime Day this year proved that wrong. We expect to see the record number of sales for Black Friday and Cyber Monday in 2024 too, so it is important your business prepares for this.

However, Customers are Still Cautious

Although customers are still spending, be aware that they are still cautious of money and where they are spending it. Customers are more cautious when it comes to impulsive spending and are trying to cut spending in 2024 as there is disposable income decreases. 72% of people intend on pursuing some form of cost-saving behaviour over the next 6 months, therefore it is more important than ever to build loyal customer bases and keep consumers engaged you’re your company and the products you sell.

By offering loyal customer schemes, free and fast shipping, and regular discounts, you can keep customers engaged and make sure that the money they choose to spend is with your company over competitors.

Sustainability is on the Rise

In 2024 we have seen a huge increase in awareness and demand for sustainable and ethically produced products. This is a major consumer trend, as customers are now expecting companies to be ethical in all aspects of their business. If your competitors are being sustainable and your business is not, it is likely that consumers will shop with competitors instead. Being a sustainable company is a great USP, and it is important more companies become more conscious of the environment and ethical issues that may come with production or transportation of goods.

Customers now say they would be willing to pay 9.7% above the average price for sustainably produced and sourced goods. Therefore, it is KEY your business takes this into consideration when producing and selling your products. A great idea could be to offer eco-friendly shipping options too over the Christmas period to appeal to customers (this may cost more, but customers will be willing to pay if they know it is ethically correct).

Easy Shopping Experiences

This winter period, customers want the most seamless experience when shopping with you. This can include shopping on your website or via social media platforms (e.g., TikTok shop or meta-ads). Being able to quickly click ‘buy’, as well as having a quick and easy website experience is so key to avoiding losing customers (this is also a great way to encourage impulse buys and get more sales).

Customers are more likely to abandon carts if they do not have an easy experience on your website or selling platform. As well as this, you need to be consistent with your branding, pricing, and promotions across all platforms to ensure customers are happy.

Multiple Payment Options

Flexible payments are something consumers will be looking for this year, especially with inflation and consumers having less disposable income. Offering ‘buy now pay later' options is a fantastic way for customers to be able to shop whatever they want in the Christmas period and be able to pay back when they can.

More and more consumers are using apps such as ‘Klarna’ and ‘Clear Pay’ (an increase of 30% this year), so having these options may encourage more customers to buy with you. Also having options such as PayPal, and multiple secure payment options may encourage more consumers to shop with you.

Free and Fast Shipping

Amazon Prime has set standards high when it comes to shipping and customers now expect free and fast delivery from eCommerce brands. Especially during the peak season, people will be expecting their parcels FAST. Being able to offer fast and free shipping may be the difference between you and your competitor, so it is important you can offer this to your customers. You should be able to provide flexible delivery options, such as chosen delivery times, easy return process and next-day delivery.

Choose 3PL This Winter

Peak period doesn’t have to be stressful, as you can put your trust in a chosen 3PL to help you with all things warehousing and fulfilment. You will be able to save huge warehousing and shipping costs in your business (and therefore be able to offer discounts to your customers on products this peak season). They will store, pick, pack and ship your items to your customers, fast and efficiently. No matter how busy you get this winter, your 3PL provider will carefully pick and pack your orders and send them out fast with trusted couriers, keeping your customers happy. By partnering with a 3PL you will be able to offer fast and free shipping, as well as having higher picking accuracy and easy returns for customers.

Here at GNOC, we know eCommerce and can help your business thrive and grow this winter period. Fill out our enquiry form now or contact us today to find out more. Any information on 3PL can be found here.