Juphy’s Weekly E-Commerce News Express – 25-29 November 2024
Ceyda Duz
This week’s e-commerce and AI news has everything you need for the holiday shopping season! From the latest trends and record-breaking spending predictions to consumers gearing up for the Cyber 5 shopping days, plus exciting product updates from Stage TEN, Temu, and Appy Pie. Catch up on the key insights shaping online shopping, retail, and AI for this year’s biggest shopping event!
Holiday Shopping Insights: Trends, Toys, and Record Spending
The holiday shopping season is here, and consumers are preparing to spend like never before. According to recent data, shoppers are expected to spend an average of $902 this year—a record high. Of this, $641 will go toward gifts, while the rest covers festive needs like decorations and food.
What’s on Everyone’s Wish List?
Gifting trends this year closely resemble last year’s favorites:
- 54% of shoppers plan to gift clothing, making apparel the top category.
- Gift cards hold second place, favored by 44% of shoppers.
- Toys follow at 36%, with beloved classics like Lego, Barbie, Hot Wheels, and video games leading the charge.
- Books, games, and other media remain popular with 31%, while 30% are giving food and candy.
For kids, toy trends lean on both tradition and pop culture. Lego, Barbie, and Disney-themed items dominate, alongside fan-favorite brands like PlayStation and Spider-Man.
Where Do Shoppers Look for Gift Ideas?
The internet reigns supreme, with 44% of shoppers browsing online for inspiration. Social media continues to rise, especially among Gen Z:
- 28% of shoppers aged 18–24 find ideas on TikTok.
- 27% turn to Instagram for inspiration.
In-person options remain relevant, with 36% relying on family and friends, and 30% opting for in-store browsing.
Payment Preferences and the Rise of Digital Wallets
As shoppers head to checkout, their payment methods are evolving:
- 44% use debit cards and 39% prefer credit cards.
- Digital wallets are gaining popularity, with 57% planning to use platforms like PayPal (30%), Apple Pay (15%), and Cash App (14%).
Record Holiday Spending Expected
This year’s total holiday sales are forecasted to hit between $979.5 billion and $989 billion, reflecting a 2.5%–3.5% increase from 2023. Online shopping is set to drive much of this growth, with non-store sales projected to climb 8%–9%, reaching up to $297.9 billion.
With spending soaring and digital channels playing a bigger role than ever, retailers have a prime opportunity to connect with shoppers. Prepare yourself for highlights a mix of nostalgia, innovation, and increasing digital adoptions!
Consumers Turn to E-Commerce for Cyber 5 Deals
As the Cyber 5 period (Thanksgiving through Cyber Monday) slowly began, consumer behavior continued to shift, with a notable preference for online shopping. Deloitte’s 2024 survey reveals a significant jump in the number of U.S. shoppers choosing e-commerce for their holiday purchases. This year, 69% of respondents plan to shop exclusively online for Cyber 5, up from 54% in 2023. This increase in online shopping is a strong indicator of how the retail landscape has evolved, with consumers increasingly prioritizing the convenience of e-commerce.
More than 183 million people are expected to participate in the Cyber 5 shopping period, marking a new record, surpassing last year’s 182 million shoppers. Interestingly, Gen Z and millennial consumers continue to drive much of the growth, contributing to an approximately 13% annual increase in sales during this time since 2021. Gen Z alone is expected to account for a large chunk of sales, with 89% of young adults (ages 18-24) planning to shop during the Thanksgiving weekend.
While in-store shopping still holds appeal, especially for items like apparel and electronics, online-only merchants are seeing the strongest demand. Mass retailers such as Amazon, Walmart, and Target also remain popular destinations for Cyber 5 shoppers. Furthermore, credit cards and buy now, pay later (BNPL) options are helping many consumers stretch their budgets to take full advantage of the deals on offer.
This year’s Cyber 5 is set to be a record-breaking event, with online shopping expected to dominate the season. Whether it’s gifts for loved ones or bargains for themselves, consumers are more prepared than ever to shop—and spend—this holiday season.
Stage TEN’s Live Show Network for Shopify Sellers
Stage TEN has unveiled a new live show network that allows creators to seamlessly integrate content creation with commerce. This platform enables anyone to turn their live shows into interactive storefronts, showcasing and selling products from any Shopify store in real time. By leveraging Shopify’s Collective and Collabs programs, creators can easily select, promote, and monetize products during their live broadcasts.
Temu Opens Doors to U.S. Sellers
China-based marketplace Temu is now welcoming all U.S. brands and sellers to join its platform. Previously invite-only, the application process has been streamlined, taking just 10 minutes with reviews completed in one business day. Sellers can also benefit from direct shipping options via U.S. warehouses, offering faster delivery and increased convenience for customers.
Appy Pie Launches Virtual Try-On APIs
Appy Pie has introduced a new suite of virtual try-on APIs, empowering retailers to deliver interactive shopping experiences. From fashion and cosmetics to eyewear and home décor, these tools let shoppers virtually “try before they buy”, adding a personalized touch to online shopping.
Engage Holiday Shoppers Effortlessly with Juphy AI
This holiday season, stand out in the competitive e-commerce landscape. Whether you’re building your online presence or have a loyal customer base, there’s always room for growth—especially with in-store shopping making a comeback. Imagine adding a tool to your store that acts like a personal in-store sales rep, available 24/7, even on holidays. Sounds too good to be true? Not with Juphy’s ‘Built for Shopify’ badged AI Shopping Assistant. Juphy AI enhances the shopping experience by offering personalized product recommendations based on browsing history, just like an expert sales rep. It proactively engages shoppers, preventing drop-offs, re-engaging returning customers, and offering helpful assistance on product pages. This seamless, always-on AI chatbot creates a customer experience that’s unforgettable—and keeps them coming back. Get started today and see how easy it is to elevate your online store this holiday season with Juphy AI: apps.shopify.com/juphy
Key Takeaways
Holiday Shopping Trends & Record Spending: Shoppers are expected to spend an average of $902 this season, with $641 going toward gifts. Top gift categories include clothing (54%), gift cards (44%), and toys (36%). Popular toy trends include Lego, Barbie, and Disney-themed items. Online shopping continues to dominate, with 44% seeking inspiration online.
Cyber 5 Shopping Surge: A record-breaking 69% of U.S. shoppers plan to shop exclusively online during the Cyber 5 period. Gen Z and millennials are major drivers of the growth, with Gen Z accounting for a significant share of sales. Mass continue to be popular destinations, while BNPL options help consumers stretch their budgets.
Stage TEN’s Live Show Network: Stage TEN has launched a new live show network that allows creators to sell Shopify products in real time during their broadcasts. This platform integrates content creation with e-commerce, giving creators the tools to easily promote and monetize products through live streams.
Temu Opens Doors to U.S. Sellers: Temu, a China-based marketplace, is now open to all U.S. sellers. With an easy application process and faster delivery via U.S. warehouses, this move enhances convenience and growth opportunities for retailers.
Appy Pie’s Virtual Try-On APIs: Appy Pie Endpoint introduces virtual try-on APIs to improve online shopping. These tools allow customers to “try before they buy,” offering a more personalized experience in fashion, cosmetics, and other retail categories.
