No doubt that with the high-flying holiday spending last year, and this year’s higher prices, retailers are going to need to put strategies in place to win with consumers this season. Many in the retail industry constantly want to look back at historical performance to dictate what this holiday might resemble most closely — but I think it’s clear that we’re in a new frontier of retail, especially during the holiday season. Seemingly endless digital shelves, the rise of TikTok influence, inflationary pressures and the now-standard elongation of the holiday shopping season push us further and further away from historical trends.
In 2022, it appears that we will have a holiday shopper who is excited to return to beloved holiday traditions and gatherings, but who is also aware of the economic uncertainty that looms around the corner.
If we can continue to delight consumers, keep the value of holiday shopping high, and return to the excitement of events like Black Friday and Cyber Monday, retailers can re-capture the holiday spirit.