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Reports from the U.S. Department of Commerce suggests that retailers must start planning for this year’s holiday sales

Reports from the U.S. Department of Commerce suggests that retailers must start planning for this year’s holiday sales
The Siliconreview
22 June, 2020

Due to the pandemic, the worldwide economy has been shuttered down in the first of 2020. This might significantly impact this year’s end holiday sales. To avoid this sticky situation, omnichannel and ecommerce must start their planning process. in recent years the holiday shopping season starts right after Halloween and it goes up to Christmas eve. This sale contributes to half of the annual sales for many retail businesses. If the retailers start the planning process, then they can focus on the reopening process.

Recently,the U.S. Department of Commerce released a report showing monthly sales for May in Food and Retail services. There was a 17 percent spike in sales in May month when compared to the month of April. This boost in sales was one of the largest month-over-month spike since 1992. There is a speculation that by Christmas 2020, the pandemic will become a memory and the retail sales would become somewhat stabilized. If there is no change in sales volume, then there are various questions that remain unanswered like, will customers do more of online shopping? Will the social distancing norm affect the sales? Can the suppliers meet the demands of the people? Will there be a change in consumers’ shopping behavior?