The last three months of the year are typically synonymous with malls and stores teeming with customers who stand in long, snaking queues to pay for their holiday shopping hauls.
But due to the coronavirus pandemic this year, which forced countries around the world to either go into lockdowns or enforce strict social distancing rules, a lot of the holiday shopping is being done online, according to multiple research reports.
One recent report from McKinsey Company found that 37 of respondents said they intended to spend more online during the holidays this year than they did in 2019. The report, which surveyed 3,500 holiday shoppers in September from the U.S., U.K., China, Germany and France, also found that only 10 said they intended to increase their time in physical stores.
Since the survey was done, U.K. and parts of Europe went into further lockdown as Covid19 cases surged. Consumers in those countries were likely to return to digital shopping, the firm predicted.
With safety and uncertainty on shoppers minds, McKinsey said how shopping is done and what consumers are going to buy are changing.
Data reported by ecommerce firms from several major online shopping events last month already point to more people buying online. Chinese ecommerce giants Alibaba and JD.com set new records by racking up around 115 billion in sales across their shopping websites during the Singles Day event in November. Southeast Asias Lazada, which is owned by Alibaba, reported more…