GREAT NECK, N.Y., Nov. 5, 2020 /PRNewswire-PRWeb/ -- Industry-leading retail consulting firm Information Clearinghouse, Inc. (ICI), through its F&D Reports and Creditntell divisions, has announced the release of its Holiday Retail Preview 2020, which compiles intelligence from consumer trends experts to identify anticipated shifts in purchasing behavior and retailer strategies during the upcoming holiday season.
The analysis examines how the holidays will look different this year, as consumers and retailers face the ongoing COVID-19 pandemic. Consumer behavior has changed across essentially all markets and sectors, reflected by an increase in digital spending and shifts in the timing of promotions. In 2019, holiday sales rose 4.1%; this year, expectations range from a mid-teens decline to 5% growth, with the average forecast rising 1% to 2%, led by e-commerce sales growth of 25%-35%. Consumers are seeking deals earlier in the season, which is pulling spending from fiscal 4Q into 3Q, and the pandemic has accelerated retailer investment in omnichannel, with most adding BOPIS and curbside pickup, improving loyalty programs, offering delivery options, and/or ramping up personalized digital marketing. Top retailers this year are forecast to be Amazon, Walmart, Target and Best Buy and, as much of the country remains in their homes amidst regional flare-ups of COVID-19, the electronics, home products and activity-based gift categories are expected to flourish.
Commenting on the Holiday Retail Preview, ICI CEO Lawrence Sarf stated, "The COVID-19 pandemic has pushed to the forefront those retailers with a strong multi-channel presence, particularly with the holiday gift-giving season starting earlier than ever. Consumers will be looking to interact with brick-and-mortar and mobile commerce to ensure the best prices and to seek faster, safer, more efficient purchasing experiences. This expert analyst coverage of what's ahead in the 2020 holiday sales period leverages ICI's analytic and proprietary tools to pinpoint which retailers and segments will come out on top and which could lag behind."
Please click here to request a copy of the report.
Information Clearinghouse, Inc. (publisher of F&D Reports & Creditntell) is a leading credit consulting firm specializing in the analysis of public and private companies in numerous retail segments. The focus of its analysis is to deliver the key intelligence today's busy credit executive needs to make a highly informed decision without sifting through pages of non-essential data. To learn more, visit our websites at http://www.fdreports.com and http://www.creditntell.com.
SOURCE F&D Reports
Share this article