Yieldify: 2020 Peak Season Report

Yieldify has released its 2020 Peak Season Report. The August 2020 study of 400 e-commerce leaders and 2,000 consumers in the US and UK sought to explore the current state of marketers and consumers, the challenges they face, and the opportunities to achieve revenue goals during this peak season.

The survey found that the upcoming peak season will be different from any previous peak season:

More e-commerce sites are opting out of their 2020 “peak season” events. However, consumers are expressing the opposite intention, planning to spend more than last year, and more of that will be online. This creates a clear contradiction between marketers’ priorities and what consumers really want.

Those marketers who participated in the peak season have adapted their strategies in the wake of COVID-19 to accommodate shifts in consumer behavior and new challenges posed by the pandemic.

With increasing competition and a growing and more diverse customer base, e-commerce leaders have a great opportunity to increase their market share this peak season.

2020 is a landmark year for e-commerce. COVID-19 has become a catalyst for rapid growth in many e-commerce industries, as consumers shifted their attention online amid store closures and lockdown restrictions. For many e-commerce companies, "Christmas" has arrived early, as traffic in April has reached "peak season" levels.

Compared with the same period last year, all peak season events saw a significant decline in participants. More than 33% of e-commerce companies chose to opt out of the 2020 peak season events, compared to only 6% last year.

There is evidence that the decision to opt out may be a mistake, as consumer sentiment suggests the trend is moving in the opposite direction: Peak season participation has increased significantly, with 34% of consumers planning to increase their peak season spending, and only 18% planning to decrease.

The PDF version will be shared on 199IT Knowledge Planet, just scan the QR code below!