At last — the holiday season is here! That means festive cheer, time with loved ones, and — best of all — amazing shopping opportunities. From huge discounts to exciting promotions, the holiday shopping season always has amazing benefits to offer.
In fact, the 2022 holiday season is slated to be one of the grandest shopping experiences consumers have had in years. Understanding the reasons behind this year’s amazing shopping landscape can provide you with key insights about purchasing, microeconomics and macroeconomics, and strategies to get the most out of your shopping adventures.
Here are some compelling reasons to take advantage of the 2022 holiday shopping season.
More In-Store Promotions
As a result of the COVID-19 Pandemic, the past several years have seen stores focus more on online retail than in-store shopping during the holiday season. This year, however, it looks like many retailers are intent on crafting a more robust in-person shopping experience than consumers have seen in a while.
This means more in-store promotions and longer holiday hours on days like Black Friday and other shopping-oriented events. In addition, many retailers will likely have more “in-store only” promotions that you may not be able to access via the internet.
This being the case, shoppers can expect a more exciting and vibrant in-store shopping experience during the 2022 holiday season. So if you’ve been lamenting the lack of Black Friday fervor and fun over the last several years, prepare yourself for a welcome reunion with the excitement of shopping in stores during the holiday season.
The Bullwhip Effect (Bigger Discounts)
In supply chains, there is a powerful phenomenon called the Bullwhip Effect in which mistakes that retailers make in assessing consumer demand become apparent in supply chain orders. As a result of the post-pandemic supply chain shortage, the Bullwhip Effect has left your favorite retailer with a surplus of goods that they over-ordered during the pandemic. Accordingly, retailers are getting ready to take advantage of the holiday season to offer their surplus goods at huge discounts to recoup some of their losses.
Speaking on this subject, Dr. Dustin York, Associate Professor of Communication at Maryville University, states that “[i]f you’re noticing better deals than usual this Cyber Monday, you can thank what’s called the Bullwhip Effect phenomenon. During the pandemic, we saw significant logistics issues – there weren’t enough TVs and sweatpants for everyone spending more time at home. In response, retailers increased orders to meet demand, but now people are leaving their homes more and facing a looming recession. This perfect storm causes customers to buy less, thus retailers holding excess merchandise, leading to deeper discounts this Cyber Monday.”
What this means is that this coming Cyber Monday will be one to remember and will likely have bigger discounts and more options than the ones we’ve seen over the last few years. As such, the Bullwhip Effect makes this holiday shopping season one that you don’t want to miss out on.
More Options to Pay In Installments
Over the past several years, more and more retailers have begun to offer consumers the option to pay for goods in monthly installment payments. Given the negative effects of inflation and rising costs, many people may not have enough cash on hand to make big purchases for items such as computers or TVs making this a welcome service that can make a more memorable holiday season possible for more individuals.
Between hugely discounted items and the ability to pay in installments, this holiday season offers you the chance to purchase amazing gifts for your loved ones without having to deplete your bank account all at once. As such, if you’re looking for options to lessen the blow of gift purchasing this year, the 2022 holiday shopping season gives you the perfect chance to do so.
Increased Product Availability
The COVID-19 pandemic wreaked havoc on the efficiency of supply chains across the world. What this resulted in was ridiculously long wait times for products to be shipped and limited availability for many goods.
Thankfully, this won’t be the case this year. As we’ve more or less made it through the COVID-19 Pandemic, supply chains have been able to recover and return to their optimal state of efficiency. While the most in-demand items may still be a little tricky to get the day before Christmas, it will be a far cry from the chaotic fervor that many experienced over the last few years.
This means that you can stop stressing and easily pick up most — if not all — of the items on your gift list without the risk of not being able to get your hands on certain items.
The Social Media Effect
Retailers continue to invest marketing dollars in social media ads and influencer campaigns to help drive demand through desirability and familiarity. “Social media advertising and influencers are continuing to have an outsized influence on consumer spending,” remarks Colin Campbell, Associate Professor of Marketing at the University of San Diego’s Knauss School of Business and Editor-in-Chief of the Journal of Advertising Research.
“Many people are discovering new brands and products through ads they see on sites such as TikTok. Influencers are often very effective at promoting products because consumers often follow them over a long period of time. This builds trust and familiarity that makes it easier to convince people to try new products and services. Smart influencers also make extensive use of video content to provide a realistic look at products, answer common questions, and provide tips and how to’s” Campbell explains.
For the consumer, watching influencer reviews is also a good place to find inspiration for presents so you can shop smarter.
Make This Holiday Season Your Magnum Opus of Shopping
Though shopping has been a little tough over the past couple of holiday seasons, this year is sure to make up for it in a myriad of amazing ways. More in-store promotions, bigger discounts, more options to pay in installments, and increased product availability, mean that 2022 is the perfect time to take advantage of the shopping season and the huge benefits that it offers.
This post is made possible by Andrew Deen.
Photo credit: iStockPhoto.com