The 2024 holiday season was really interesting for online shopping. Consumers spent a record $241.4 billion, and a lot of that came from mobile shopping—more than half of online transactions were made from smartphones. Buy Now, Pay Later (BNPL) services also saw a big jump, with $18.2 billion spent through those platforms, which is up almost 10% from last year. It’s clear that people are leaning into flexible payment options more than ever, and they’re continuing to shop from their phones while on the go.
On the flip side, the luxury goods market took a bit of a hit this year, with global sales expected to drop by 2%. While luxury isn’t doing as well, markets like Japan and the Middle East are still seeing strong growth, thanks to a younger, more affluent crowd. It seems like shoppers are more focused on finding great deals, especially on things like electronics and apparel. Discounts on big-ticket items really boosted sales across the board, and price-sensitive shoppers were a huge driver of online growth this holiday season.
For small businesses, this season was all about adapting to these trends. Many are using digital marketing to stand out, offering unique products, and making sure they have flexible payment options available. Despite some economic challenges, consumers were still ready to spend, with the average person planning to drop $1,638 on gifts and holiday activities. So, it’s clear that businesses who get these new shopping habits and adjust accordingly are in a good spot to thrive in 2025.
How intriguing! I had no idea!
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