There will be plenty different about the 2020 holiday shopping season. But you already knew that.
What you’re probably more interested in is finding answers to what to do about that. Signifyd has teamed up with our friends at Corra and some of the digital agency’s other partners to put together “Give the Gift of Exceptional CX,” a repository of advice for retailers facing the holidays in the COVID era.
There is plenty of uncertainty ahead, but we can count on a big uptick in online orders. Signifyd has been tracking the changes in consumer shopping habits since the World Health Organization declared the pandemic and we’ve seen ecommerce spending move in on direction: up.
Ecommerce spending in July was up 90% over a year ago, according to our Ecommerce Pulse data. Many merchants we talk to expect holiday orders to spike well beyond that. Furthermore, retailers will be managing new realities during what is the most crucial time of the year for their businesses.
Ecommerce habits established early in the pandemic persist
The shelter-at-home orders and requirements that many stores close early in the pandemic created new consumer habits — and new online consumers. Signifyd’s data reveals a wave of shoppers who had rarely or never shopped online before, but who have embraced ecommerce in the time of the pandemic. Nearly half a year into the pandemic, the number of new users transacting on Signifyd’s Commerce Network is trending at 30% higher than a year ago.
And shoppers are turning to new — or new to them — channels. As of late August, online orders picked up in the store, or at the curbside, were up nearly 200% since the beginning of the year.
The trend, being driven by the rise of curbside pickup, is likely to spike dramatically in the holiday season. UPS, FedEx and the U.S. Postal Service have all said they will impose surcharges on merchants who reach a certain volume of packages. UPS, for instance will levy fees as high as $4 per package, threatening the break-even point for a significant number of orders. Curbside provides merchants one of the few lifelines they have.
Corra’s holiday resource center can help with you key holiday fraud and consumer abuse challenges.
- How in the world can a manual fraud review team keep up with online order volumes we’ve never seen as a business?
- How do I avoid defaulting to a defensive crouch and declining good orders for fear of fraud?
- How do I scale up my fraud protection for what could be an unprecedented spike in orders without squeezing my margins to zero?
And that’s not all the resource center can help with. Besides Signifyd and Corra, the guide includes advice and strategy from Klarna, Yotpo, Threekit, Dynamic Yield, Klaviyo and dotdigital. Each contributing partner delves into its area of expertise to provide merchants with actionable ideas to help them win the holiday. No doubt there is something there for you.
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