'Tis the Season for Spending in New Ways

The holiday shopping season of 2020 required a lot of pivoting, ingenuity, and adaptation on the part of retailers to be able to attract consumers. Despite the pandemic and its economic fallout, the majority of consumers approached the holidays ready to shop and spread some good cheer—even if they had to do much of it from a distance.

Here's a look at the shopping trends of 2020, and how they can inform your 2021 strategy.

¹ https://nrf.com/media-center/press-releases/more-150-million-plan-shop-super-saturday
² https://news.gallup.com/poll/326654/americans-holiday-spending-intentions-strengthen-november.aspx
³ https://www.businessinsider.com/cyber-monday-results-shatter-us-online-shopping-records-2020-12
⁴ https://www.slideshare.net/adobe/adobe-digital-insights-holiday-recap-2019
⁵ https://www.criteo.com/blog/global-black-friday-2020-sales-recap/
⁶ https://www.retaildive.com/news/advantage-shifts-to-stores-as-a-holiday-dominated-by-e-commerce-wraps-up/592466/
⁷ https://www.electran.org/tsg-eta-holiday-survey-finds-credit-debit-cards-the-top-payment-choice-this-holiday-season/

First Horizon Bank. Member FDIC.