How can retailers best connect with shoppers in 2020? Some familiar themes—like competitive shipping offers from retailers and the evolution of Prime Day as a key shopping day for all brands—will continue from 2019. But retailers can also expect to see some new shifts in 2020, like the impact of politics on the retail holiday cycle and whether or not eco-friendly shipping options from retailers are really striking a chord with consumers.
RetailMeNot discovered 10 key insights when it surveyed 200 senior retail marketers and more than 5,000 consumers on trending topics and areas of investment for 2020.
Here are just a few of our favorite topics covered in the 2020 Retailer Playbook:
No. 1: Taking a Stand to Stand Out
One trend will spike higher this year: more retailers are taking a stand on political or social issues. In response to the election year, a large majority (90%) of retailers are overlooking the old taboo of remaining politically agnostic and will make some changes to how they market this year. This includes:
- Being more willing (48%) to take a public stand on social values in 2020
- Being more conscious (56%) of any political connections that can be made to what they post on social channels
- Designing marketing materials (44%) to tie the election into what they are selling
- Having a sale (43%) related to Election Day
- Looking back at 2016 shopping trends (44%) to inform their strategies accordingly.
Even so, only 40% of Americans say the election will impact which brands they shop with.
No. 2: Shipping Wars
While an election alone may not be enough to derail consumer spending, there’s another issue that might: shipping and the environment. Based on RetailMeNot research, half (51%) of Americans are willing to wait longer for eco-friendly shipping options from retailers like Amazon. But once cost becomes a factor, 70% prefer the lowest price over environmental impact.
Regardless, 81% of Americans expect retailers to offer more expedited shipping options during the holidays in 2020. Exacerbating the situation, 44% of consumers admitted they will shop later in the holiday season in 2020 because they know they can receive items faster. Procrastinators will pose a major challenge for many brands as 63% of retailers struggle to keep up with shipping deals offered by their competitors.
No. 3: Prime Day as The New Black Friday
Last year saw a surge in both retailer and consumer activity during the week of Amazon’s Prime Day event. RetailMeNot’s latest consumer research shows that 59% of consumers believe they found better deals on Amazon Prime Day than during Black Friday in 2019. While Black Friday still stands as some of the deepest discounts in the year, according to RetailMeNot data, the new July shopping event saw impressive participation. In fact, RetailMeNot data shows that more than 300 retailers participated in 2019 Prime Day sales, offering more than 775 promotions–a growth of 55% and 41% respectively from prior year.
To see more data and the full list of 2020 insights, visit the RetailMeNot Retailer Playbook.