How will Holiday Shopping be Different in 2021?
The holiday shopping season 2021 will be unlike any other. A wide range of supply chain issues are pushing up prices, and the availability of many products will be limited. This will make it harder to get your Christmas shopping done.
The BIG takeaway, start shopping early, or you could be left searching for second, third, or even fourth choices to select from…and at higher prices!
How will consumer behavior change in holiday shopping 2021?
One change that will definitely happen, and has already been trending upward, is gift card giving. With shortages of many goods, gift cards will be more popular than ever, as well as a last-minute reprieve for many shoppers.
Many people have also started shopping far earlier than in the past, knowing that specific items, like games and toys, will be in very short supply. If it is something that is on your gift list and you see it, buy it.
If you ship presents, you should plan on longer delivery times and not be shipped long distances after the 15th of December (maybe earlier). Shippers will be jam-packed with deliveries, and delays are inevitable.
Will available consumer deals or items be different in 2021?
Absolutely! Deals will be far less common and not as strong as in past years, especially for hard to get items. In fact, in-demand items will likely be priced at full retail with no discounts. Promotions will likely be only on goods that retailers have in excess stock.
What about Black Friday and Cyber Monday shopping in 2021?
Expect long lines on Black Friday as retailers have employee shortages, which will also affect how quickly items are restocked on shelves. Retailers will be very challenged in 2021 to keep up with demand.
Likewise, Cyber Monday will see websites flooded with traffic, and there will almost certainly be some site meltdowns. Online sellers will be cautioning consumers to buy now and ship early for all the same reasons noted above. Again, there will be some deals but only on items with plenty of stock. Hard to get items that will be full price.
That said, both days are expected to have record sales as more people want to celebrate the holidays this year.
Apparel sales, in stores and online, are expected to grow 46%, jewelry sales are expected to grow 59%, and luxury sales, excluding jewelry, are expected to grow an incredible 93%.
Strategies for holiday shopping 2021?
Start early and get your shopping done as quickly as you can afford to do so. Waiting will result in fewer or no choices for select items, longer delivery times, and possibly higher prices. Shop online if possible.
Unique financial challenges many shoppers may be facing?
With many people just rejoining the workforce, there will be a lot of shoppers with less money to spend, and much of it will go on credit cards. There was a reduction in debt overall during the pandemic, but there is likely to be a spike in consumer debt this year.
Some shoppers may consider getting holiday loans to celebrate this holiday season due to cash shortages.
CashOne is a trusted referral source for more than 120+ payday and installment loan lenders for those in need of Christmas loans. Only borrow when absolutely necessary and for as little as possible. CashOne has been helping Americans for more than 15 years and is available every day, 24/7.
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