Holidays Playing a Significant Role in E-commerce

By Apac CIO Outlook | Wednesday, October 16, 2019

The holiday season demands a lot of attention in the e-commerce community. According to a study by the National Retail Federation (NRF), US, the overall holiday shopping sales in 2016 accounted for nearly 20 percent of the total retail industry’s sales. This rise in the statistic is largely credited to the past two decades, where the e-commerce has become an integral part of the holiday seasons.

As we know, the most significant global occasions for shopping are the Black Friday and Cyber Monday; a data released by Adobe Digital Insights states that the US shoppers spent a record of $5.03 billion online during Black Friday and $6.59 billion on Cyber Monday. These digits show the number of customers buying a variety of gifts and items from the comfort of their homes and offices. Further, assisted mainly by email and social media marketing, e-commerce is generating a decent percentage of revenue. Also, according to a survey, mobile and tablets have accounted for 50 percent of web visits during the holiday season, driving 31 percent of purchases and generating $28.43 billion in revenue.

The holiday shopping effect for online retailers varies in different countries. China is the world’s largest retail market. The Chinese calendar is marked with a number of shopping seasons, providing retailers across the world with an abundance of opportunity. Some of the notable holidays being Chinese New Year, single’s day, and autumn moon festival.

The growing revenue figures serve as a reminder of the importance of integrating strategies into online businesses. The browsing and purchasing of items across a variety of devices have to be made easier for consumers to shift to online shopping prominently. As the holiday season approaches, retailers start predicting trends, expectations, and overall consumer forecast. After the shopping gala, e-commerce retailers run analysis and examine the shopping behaviors, which help them improve their strategies or stock in the upcoming holiday event.