Holiday Shopping Will Still Bring Joy in 2022
Sixty-two percent of consumers believe celebrations and holiday shopping are important.1 Even inflation won’t dim their cheer this season, as they shop for themselves, family, and friends. As well as shopping early, consumers have plans for how they’ll make purchases. These tips will help retailers and other businesses spread the joy.
What are top shopping days?
Consumers are expected to spend $35 billion between Thanksgiving and Cyber Monday.2 Top shopping days will be:
- Cyber Monday (November 28)3
- Black Friday (November 25)4
- Super Saturday (December 17)5
- Thursday before Christmas (December 22)6
How much will consumers spend?
Shoppers plan to spend $1,041 this year.7
What will shoppers buy this holiday season?
Source: Coresight Research/GiftNow, “US Holiday Gifting 2022: Decoding Shopper Plans Amid Increasing Uncertainty,” October 17, 2022
What will shoppers buy this holiday season?
Source: PwC, “Holiday Outlook 2022”
How should businesses prepare for the 2022 holiday season?
- Attract shoppers to your website AND physical locations.
- 45% of shoppers will browse and purchase at physical stores.8
- In-store shoppers purchase 1.8x more when they also visit the retailers’ site.9
- 78% of shoppers will buy online, pick up in store (BOPIS) to save on shipping costs.10
- Power up your mobile apps – 80% of consumers will shop there too.They’ll look for discounts.
- (38%), shop for better prices (36%), and check inventory (27%).11
- Offer attractive discounts.
- 72% of shoppers are worried about price increases.12
- 88% of holiday shoppers will look for discounts.13
- Invest in digital campaigns. Retailers are setting the example.
- Retailers that spend more than 50% of their marketing budgets on digital have greater e-commerce penetration.14
- 77% of shoppers are open to marketing from businesses and 50% will sign up for loyalty programs this season.15
- Allow customers to buy now, pay later (BNPL).
- 40% of consumers plan to use the BNPL option during the holidays.16
- Secure adequate inventory and provide a painless shopping experience. Shoppers are worried about:17
- Inventory shortages (55%)
- Long lines (43%)
- Empty shelves (39%)
- Staff shortages (37%)
For a complimentary review to help you prepare for the holiday season, simply complete a short form and a Synovus Merchant Services Consultant will contact you with details. You can also talk to your Synovus Representative or visit a local branch to learn more.
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Disclosure: This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, -nancial or investment professionals based on your speci¬c circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.
- National Retail Federation, “6 Things to Know About the 2022 Holiday Shopping Season,” September 30, 2022 Back
- Adweek, “It’s Beginning to Look a Lot Like the Holiday Shopping Season Will be Defined by 5 Trends,” October 10, 2022 Back
- ibid Back
- Loss Prevention Magazine, “The Biggest Shopping Days of the Holiday Season Revealed,” January 9, 2022 Back
- ibid Back
- Retail Info Systems, “Holiday Retail Forecasts and Predictions for 2022,” September 19, 2022 Back
- National Retail Federation, “6 Things to Know About the 2022 Holiday Shopping Season,” September 30, 2022 Back
- Criterio, “2022 Holiday and Festive Season Commerce Trends: 5 Predictions,” September 1, 2022 Back
- Cision PRNewswire, “2022 Holiday Shopping Habits Report from Bluedot Reveals Big Demand for Buy Now, Pay Later as Consumers Brace for Price Hikes, October 11, 2022 Back
- ibid Back
- Bluedot, “Holiday Shopping Habits 2022” Back
- Cision PRNewswire, “2022 Holiday Shopping Habits Report from Bluedot Reveals Big Demand for Buy Now, Pay Later as Consumers Brace for Price Hikes, October 11, 2022 Back
- ibid Back
- KPMG, “Retail Executive Outlook: Holiday 2022,” September 2022 Back
- Cision PRNewswire, “2022 Holiday Shopping Habits Report from Bluedot Reveals Big Demand for Buy Now, Pay Later as Consumers Brace for Price Hikes, October 11, 2022 Back
- ibid Back
- ibid Back