{"id":343,"date":"2023-09-02T03:33:20","date_gmt":"2023-09-02T03:33:20","guid":{"rendered":"https:\/\/savemycent.com\/?p=343"},"modified":"2024-02-16T14:23:52","modified_gmt":"2024-02-16T14:23:52","slug":"holiday-shopping-statistics","status":"publish","type":"post","link":"https:\/\/savemycent.com\/holiday-shopping-statistics\/","title":{"rendered":"26 Fascinating Holiday Shopping Statistics You Should Know in 2024"},"content":{"rendered":"\n
The holiday shopping season is the highlight of the year for most people. Sure, they have to wait in long lines and get all the items they want before they disappear from the shelves. But it\u2019s also the season of incredible discounts, excellent deals, and fantastic limited-time offers.<\/p>\n\n\n\n
However, as exciting as the season is for shoppers, its success is vital for retailers. Holiday shopping statistics show that the revenue generated in November and December makes up a significant chunk of their total annual income \u2014 and many depend on it to stay afloat.<\/p>\n\n\n\n
As the industry faced the global pandemic in 2020, many feared the holiday season wouldn\u2019t live up to the expectations. In this article, we\u2019ll examine how the season turned out and find out what retailers did to ensure its success. We\u2019ll also learn more about the role ecommerce plays in holiday shopping and look into the ever-changing consumer trends and habits.<\/p>\n\n\n\n
(Statista)<\/p>\n\n\n\n
Traditionally, the holiday shopping season starts the day after Thanksgiving, on Black Friday. But in recent years, retailers have begun launching seasonal discounts much earlier \u2014 and customers are taking advantage of that. According to holiday shopping statistics from 2020, 38% of US consumers planned to start stocking on gifts in October, and another 23% before Thanksgiving. Only 22% said they\u2019d wait until Thanksgiving to start their holiday shopping.<\/p>\n\n\n\n
(National Retail Federation)<\/p>\n\n\n\n
The so-called \u201cGreat Recession\u201d left a significant mark on the retail industry, as revenue took a dive for two consecutive years. However, holiday sales have been steadily growing since 2009. The total revenue in 2010 was $528.8 billion. From there, it grew each subsequent year, reaching $721.9 billion in 2019 \u2014 an impressive 36.5% increase over only nine years.<\/p>\n\n\n\n
(National Retail Federation)<\/p>\n\n\n\n
The retail industry was fearing the global pandemic would lead to a downturn in seasonal shopping. But to say the final holiday shopping statistics for 2020 were encouraging would be an understatement. Namely, amid the pandemic, total retail revenue during the holidays rose by 8.3% from $729.1 billion in 2019 \u2014 the biggest year-over-year growth since 2017.<\/p>\n\n\n\n
(National Retail Federation, Digital Commerce 360)<\/p>\n\n\n\n
One of the best-known holiday shopping facts is that the seasonal buying frenzy rakes in a significant portion of the retail industry\u2019s annual income. For example, the total annual retail revenue in 2020 was $4.04 trillion. Of that number, $789.4 billion (19.5%) came from retail sales in November and December. The average income in each of the remaining 10 months of 2020 was a more modest $325.1 billion \u2014 showing why holidays matter so much to retail.<\/p>\n\n\n\n
(Digital Commerce 360, National Retail Federation)<\/p>\n\n\n\n
Due to social distancing during the pandemic, in-store shopping wasn\u2019t an option for many customers. But with $202.9 billion (25.7%) in total holiday retail sales in November and December 2020, ecommerce practically saved the season. The number was 46% up from 2019, surpassing the pre-pandemic projection of $159.8 billion by a staggering 27%.<\/p>\n\n\n\n