2020 is the year of the unexpected — and this holiday shopping season will be no different. The pandemic has changed our world in so many ways, especially when it comes to how we shop and pay for goods and services. Consumer spending has shifted to e-commerce channels to limit contact with others, and many merchants have ramped up their online efforts to make sure they’re reaching customers, offering curbside pickup and delivery options to meet today’s new social distancing requirements. It’s no surprise that this holiday season will be like none other and could redefine holiday shopping for years to come.
What to Expect This Holiday Shopping Season
In the wake of the pandemic and economic uncertainty, merchants are testing the holiday shopping waters by offering early deals. This is designed to gauge consumers’ willingness to spend money this holiday season and reduce the mad dash to stores that could make responsible social distancing impossible. No merchant wants to see their store featured on the news as the newest super-spreader event.
However, overall holiday spending is still expected to be strong this year, and the shopping will look more like Cyber Monday than Black Friday. E-commerce activity has skyrocketed since the onset of the pandemic and will drive a surge in online holiday spending. Card-present activity will be significantly less this year as a result.
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