Holiday shopping 2020 will be fundamentally transformed

In the wake of the pandemic much about retail has changed in 2020. Many of the digital trends that had been transforming the industry were accelerated, as was the demise of many classic retail brands (J. Crew, Brooks Brothers, Lucky Brand, JCPenney, Neiman Markus, Pier 1 Imports). While the retail challenges are not new, the impacts during COVID-19 ran much deeper.
Looking ahead to the holiday season, many brands are pinning their hopes of long-term sustainability on holiday sales, which in recent years have started well before Black Friday. According to the National Retail Federation, roughly 35 percent of shoppers begin holiday shopping before the end of October. Will an anticipated growth in the holiday season rise the tides for all brands, or expose deeper gaps between brands that effectively use consumer data to create digital differentiation and those that lag? Read more…