Holiday Ecommerce Set to Skyrocket by 5% Amid Economic Uncertainty: Signifyd Study Reveals

Holiday Ecommerce Set to Skyrocket by 5% Amid Economic Uncertainty: Signifyd Study Reveals

Online holiday shopping is poised to surge this year, defying economic headwinds. A recent study by Signifyd found that holiday ecommerce sales are expected to jump 5% year-over-year, reaching a record $225 billion.

This growth is being fueled by several factors, including strong consumer spending and a continued shift to online shopping. Despite inflation and rising interest rates, consumers are expected to spend an average of $1,500 on holiday gifts this year. And with the convenience of online shopping, many consumers are opting to make their purchases from the comfort of their own homes.

Opportunities and Challenges for Retailers

This holiday season presents both opportunities and challenges for retailers. On the one hand, the surge in online shopping provides opportunities to increase sales and reach new customers. On the other hand, retailers need to be prepared for the challenges of managing increased order volumes and preventing fraud.

To capitalize on the opportunities and mitigate the challenges, retailers should focus on the following strategies:

  • Invest in fraud prevention: Fraud is a major concern for retailers during the holiday season. Retailers should invest in fraud prevention solutions to protect themselves from fraudulent transactions.
  • Optimize your website: Your website should be easy to navigate and mobile-friendly. Consumers are more likely to make purchases from websites that are easy to use.
  • Offer a variety of payment options: Consumers want to be able to pay for their purchases in the way that is most convenient for them. Retailers should offer a variety of payment options, including credit cards, debit cards, and PayPal.
  • Provide excellent customer service: Excellent customer service is essential for building customer loyalty. Retailers should respond quickly to customer inquiries and resolve any issues quickly and efficiently.

By following these strategies, retailers can position themselves for success this holiday season.

Conclusion

The holiday season is a critical time for retailers. By understanding the trends and challenges of holiday ecommerce, retailers can take steps to maximize their sales and profits.

To learn more about how Fundingo can help you improve your loan management or origination or servicing software or systems, schedule a demo today by calling toll-free at (877) 227-7271. Visit Fundingo.com here for more information.

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