RCP_60-sec-Podcast_Webpage-Header.jpg

Episode 2: When Does Holiday Shopping Really Start?




Announcer: Welcome to this episode of “60-second Retail” - a BDO podcast keeping you in-the-know on events and trends in retail and consumer products industry impacting your bottom line, in just a few short minutes.

Natalie: Hello, my name is Natalie Kotlyar. I am the National Leader of the Retail and Consumer Products industry group at BDO USA. In this episode I would like to cover, when does the 2020 Holiday shopping season really start?

The holiday creep is slated to start in October this year with Prime Day being mid-October.
Retailers are hoping that early promotions will not only get consumers in the holiday spirits faster but will also allow them to make transactions over an extended period and alleviate some of the late Q4 crunch.

Prime Day landing in October may make holiday shopping easier for consumers but could lead to a decrease in retail spending overall. The loss of a July Prime Day means that there will be one less big push, for consumers to take advantage of annual deals and promotions in 2020. As consumers will use Prime Day to start their holiday shopping instead of making impulse purchases.

Some consumers may not let the holiday creep influence their buying decisions. Instead they may take the wait-and-see approach, as the pandemic continues to play out.  They will look for as much clarity on what the holidays will look like (i.e. the economy, their personal finances, the state of travel, etc.) before making a purchase.

If most consumers take this position, retailers may see a significant last-minute holiday shopping rush.

Logistical challenges like shipping and last-mile delivery will be especially important to address, with many retailers hoping to turn to BOPIS.

Retailers that welcome the earlier holiday start and pivot to assume that every day is Cyber Monday, may be better able to capture consumer interest and cash-in on the spike of e-commerce traffic that has been gaining traction since the early days of COVID.

In conclusion, retailers must be strategic about keeping the allure of exclusivity, staying relevant and the timing of their promotions for this holiday season to be a success.

Announcer: And that concludes this episode of BDO’s “60-second Retail” podcast.  Don’t forget to tune in for the next episode!  To find more information on our hosts, guests, BDO’s services, or listen to previous episodes of “60-second Retail”, please visit www.bdo.com/60-second-retail.
 

 
Icon-COVID-(1).png  

SUBSCRIBE

Stay in-the-know with 60-second RetailSign up to receive Retail & Consumer Products Insights and you'll receive an email as new episodes are released.