What Retailers Can Expect This Holiday Season
The fourth quarter of the year tends to be a vital one for retailers. There’s a plethora of make or break shopping days – Black Friday, Cyber Monday, Super Saturday…all leading up to the holiday season. eMarketer forecasts that Q4 2017 online holiday retail sales will grow by 12%, accounting for over one-quarter of total US eCommerce sales for the year.
So, what other trends can retailers can anticipate this holiday season?
As the season approaches, retail customer engagement surges and remains strong until retail seasonality kicks in – when that does kick in, there is a dramatic shift from high customer engagement to customers purchasing products. This trend holds and continues throughout the holiday season. This indicates that when a high number of customers are trigger happy, they are not interested in researching products they intend to buy.
Hence, cart abandonment rates have improved steadily during the holiday season – customers are abandoning their carts less frequently than earlier in the year. Even with a sustained trend of lower abandonment rates going into Christmas, there is still a ton of missed opportunities to engage with your most valuable customers. Have you made the most of your holiday season shopping traffic? Get our 5 tips to minimize cart abandonment here.