Holiday gift season is upon us and with it comes shopping mania to ensure the undeniable joy of finding the perfect gift. It’s time to pull out all the stops and reap the rewards of the busiest time of the year. But where do you start? Before looking for the latest must-have on your loved one’s list, take a peek at some of the shopping trends hitting the shelves this year.
While some opt to shop from their homes, in-store shopping continues to be a strong option for shoppers. 88% of shoppers intend to shop in physical stores this holiday season. Why? Because today’s shoppers are gravitating towards physical stores for experiences rather than simple transactions.
The age of immersive shopping experiences is causing traditional retail locations to make a comeback. We are seeing the growth of mixed-use developments in the retail space instead of malls or stand-alone stores. Today’s shoppers are expecting to be enthralled in the experience inside of the store and interaction with the brand.
With that, retailers need to be prepared for holiday shopping early. The schedule of Thanksgiving week and Christmas allows shoppers a full 5 weeks of in-store shopping. It is predicted that Black Friday and Cyber Monday will account for 37% of total U.S. holiday retail sales. However, retailers also can boost those early holiday sales by remaining open on Thanksgiving Day. 21% of the 167 Million expected shoppers of Thanksgiving weekend plan to shop on Thanksgiving Day.
This year continues the trend of wanting to gift quality over quantity. There is a lot of pressure for retailers to supply reliable, innovative goods. Shoppers are purchasing less “stocking stuffer” gifts, opting instead for more expensive and higher quality presents that can transcend the season. In fact, value is going to trump the appeal of discounts. Customers will change the meaning of door-buster deals to that of a well-priced high-value item rather than a very low priced gift without value. The price of gifts is going to have a decreased influence on purchase decisions as the demand for value and features become more and more important.
As minimalism grows and the demand for quality outweighs the requests of tangible presents, families and friends are gifting experiences. Memory-making adventures and activities like trips to museums or cruises are on the rise. Gifters are spending more on experiences where they can eat, drink and connect with family and friends. The growth of this type of gift is so large that a new retail “holiday” has emerged. Travel Tuesday (the day after Cyber Monday) has quickly become the day when sales on flights, hotels, tickets and more are at their best, and purchases of those experiences peak. Gifters are spending more on experiences where they can eat, drink and connect with family and friends.
Another trend to consider for your loved one is that of wellness. With 231% year over year growth, wellness gifts are bound to jingle some bells this holiday season. Workout gear and classes, like those at The Bar Method, are excellent treats that many potentially would not think to get themselves.
Prepping for the holidays is stressful and often all-consuming. As the demand for quality goods and authentic experiences become the main focus of the gift-giving season, shoppers will spend more time searching for the ideal presents, rather than sticking to one store. For this reason, mixed-use developments and marketplaces like Bluhawk have grown in popularity year after year. Retail spaces like the Bluhawk Marketplace offer a convergence of brands and retailers to the experiences demanded by consumers in their search for the perfect gift. With access to different types of retailers and an immersive shopping experience, consumers will be able to find something for everyone on their list this season at Bluhawk.