Christmas retailThere was a strong shift towards online purchases during the holiday season: between 2019 and 2020, U.S. retail e-commerce holiday sales grew by roughly 50 billion U.S. dollars, which was a much stronger increase compared to previous years. Roughly three in five consumers in the country stated they were likely to visit online retailers when buying gifts, making it the favorite option in 2020. Specifically, the favorite e-retailer to go to for those gifts was the usual suspect: Amazon.com.
Consumer shopping behaviorThe Christmas shopping season can start as early as September and some consumers begin even earlier. In 2020, approximately 40 percent of Christmas shoppers in the United States stated they normally start before the end of October, while just about 15 percent of consumers usually begin in December. The average amount people in the United States believed they would spend in 2020 amounted to some 850 U.S. dollars, which is roughly the same as the previous year’s budget.
Christmas treesThe Christmas tree is considered to be the main symbol of this pagan tradition. In 2020, most U.S. consumers were planning to put one up, whether it was a real or an artificial tree. In 2019, people spent roughly 100 U.S. dollars on fake trees and about 75 U.S. dollars on real ones, which is a considerable increase in price, compared to the beginning of the 2010s.
The economic impact of Christmas is a factor that has grown steadily, not only throughout the United States, but also around the world. The merry season will continue to be a significant key sales period for businesses and retailers alike. Overall, 2020 was the year of online (holiday) retail, as well as increased online shopping among consumers, and could potentially set a precedent for years to come.