October 2020 is almost here and several American retailers believe it could just mark the onset of an early holiday season.
October generally hasn’t been associated with holiday season and shopping excitement, but then everything has been different in 2020 – a year that will always be remembered for pandemic-induced store closures, lockdowns, debts, bankruptcy and mergers.
With holiday season still 2 months away, several retailers are encouraging shoppers to come out for an early shopping.
While Target was the first to encourage shoppers for an early shopping in October, they were soon followed by other biggies like Walmart, Under Armour and Dick’s Sporting Goods, amongst others.
Target has been telling shoppers that early holiday shopping in October will help them avoid growing crowds in November and December. One cannot overlook the fact that people are still wary of entering physical stores.
And it’s not just about safety! Target has said that it also plans to offer products at lower prices in October.
Early holiday shopping will help shoppers plan and organise their purchases better so as to avoid crowds.
On 2 September, Coresight Research had conducted a weekly survey which distinctly highlighted that 55 per cent of American consumers avoid going to shopping malls. However, that percentage has gone down since.
Similarly, the Coresight Research report also said that over 40 per cent of people avoided shops in general, though again there’s been slump in its percentage lately.
Meanwhile online giant Amazon has said that it will also, in all probability, hold Amazon Prime Day in early October and expects huge sales from the event. Additionally, Amazon’s Black Friday sales may begin on 26 October and run for 3 weeks.
So, October 2020 will be different! With so many bricks-and-mortar stores closed, those shoppers who will come out will have fewer stores to shop from. Besides, there will be less inventory, which may influence people to go for gift cards.
And those who still don’t go out would prefer buying online or through curbside pick-up or buy online, pick up in store – better known as BOPIS.
It’s not going to be same this time and therefore many of the retailers are urging shoppers to come out early in October and start shopping.
It will be interesting to see how October starts for the retailers and the question ‘will people come out for the early holiday purchase’ remains. Watch out for this space.