November 20, 2020
With the annual post-Thanksgiving Black Friday retail event a week away, new research data suggests consumers have already begun their winter holiday shopping — online, with e-commerce traffic up 82% in November compared with the previous-year period.
The seventh annual edition of the Verizon Business Retail Trends Report finds holiday shopping surging early this year and confirms how COVID-19 restrictions and related health concerns could be linked to an increase in online shopping this holiday season.
Verizon says mobility traffic to and around the U.S.’s largest malls — as evidenced by their cell phones — has decreased dramatically from last year. According to the telecom, people are moving to and around malls 20% less than they did last year during early November. There’s also a 28% increase in use on payment sites versus last year.
“Our report confirms what we expected to be true, significant shifts continue from in-person, brick and mortar shopping to online shopping,” Michele Dupre, VP of sales vertical markets, retail and hospitality for Verizon Business, said in a statement. “What’s surprising and promising for retail stores is while mobility around U.S. malls is down from last year, it’s up significantly at 59% since the height of the pandemic. Online retailers will need to continue to invest in creative and innovative customer experiences, to capture revenue and offset lost sales from in-person shopping.”