In a context where Black Friday has not had the effect of other years, and in an attempt to avoid a loss of stock and minimize expectations of large sales without hurting the bottom line, one third (34%) of merchants in Spain has invested in marketing campaigns to attract shoppers before the holiday season, according to a new report from global payment solutions provider Checkout.com.
One year after the «Christmas canceled »Consumers also seem determined not to miss another holiday season. 60% say they have started their Christmas shopping early to avoid disappointment.
In addition, 54% of Spaniards reveal that they are concerned that the items they want to buy during this festive period will be sold out and more than half (54%) are also concerned that the items they have already bought online will not arrive in time for Christmas . In fact, at the beginning of November, 63% of merchants in Spain reported a clear rebound in seasonal sales, much earlier than other years.
For Jonathan G. Rambal, General Manager of Checkout.com for Southern Europe, “This year’s critical holiday sales period seems complicated by challenges that are beyond the control of most e-commerce. However, there are measures that any store can take right now to counteract the impacts of these external pressures “.
“Instead of being a big bang moment”, keep going Rambal, “We can expect this year’s holiday shopping season to start earlier, to be more sustained and defined by high-level transactions. The fact that 63% of Spanish retailers are reinforcing their digital payments when the environment is not the most favorable shows that they recognize how much is at stake and that payments are a strategic issue. For example, by reducing downtime, increasing authorization rates, offering appropriate payment options, and more precisely managing fraud and chargebacks, Spanish retailers can protect billions of revenue at a time when that really every transaction is important ».
Longer holiday period, more income opportunities
However, there are indications that while spending may have been less concentrated over Black Friday weekend, this year’s extended holiday sales period will continue. being profitable for retailers.
78% of Spanish retailers expect consumers to spend more this Christmas than in 2020, both physically and digitally. And if they can foster a steady stream of traffic during an extended shopping season, there is reason for optimism that revenue will be positive and that a slightly muted Black Friday could actually make the experience more seamless across the board. . Thus, less impulsive purchases and greater awareness of the complexities of shipping can have some advantages, although only 32% of Spanish consumers state that they do not intend to return a single item purchased online this Christmas.
Retailers must make every transaction count
Despite the advantages, the study data also reflects the uncertainty felt by both merchants and consumers this year as they try to navigate unusual market forces. Ensuring that all potential sales are captured will be critical to achieving a profitable last quarter for Spanish companies.
This point does not go unnoticed by the smartest retailers: more than half of Spanish retailers (60%) you have specifically invested in your online payments to ensure maximum revenue during this important year-end shopping season.
