2023 Holiday Shopping Trends: Online Market Insights Revealed

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Shopping online is no longer a luxury. It’s a way to buy things you need conveniently. A smartphone, payment method, and home address are all you need to buy almost anything online. 

You can shop at domestic e-commerce sites. Or you could buy stuff abroad. The number of online retailers in the world keeps increasing. And nearly all of them are fighting for your attention. 

In fact, you can take advantage of this competition to score huge savings this Holiday season. Below are market insights and trends to take into consideration while shopping online during the holidays:

Early Holiday Discounts 

Online retailers no longer wait until November or December to give out bonuses. They’re already giving them out. According to shopping experts, this new trend is being caused by an inventory bloat—stores have more inventories than there’s demand.

Last year, Amazon, Walmart, Target, and Nike all rolled out generous discounts by the start of October. They gave out their biggest deals during Black Friday and Cyber Monday. And they had more promotions during Christmas and the New Year’s Holiday.

In light of this information, create your shopping plans early. Start product research now so that you’ll be ready to buy when the big discounts come. 

Smart Buying Practices

More and more Americans are learning skills to help them buy the right products at the best prices. They’re becoming smarter while shopping online. Economic uncertainty has a lot to do with it.

According to CNBC, up to 71% of retailers are expecting Americans to spend less during this year’s holiday season. That doesn’t mean people don’t want to save money.

Most shopping sites expect buyers to look for discounts during major holidays. They also expect them to do a lot of product research on sites like bestreviews.guide before they spend their money. Product research helps people buy the best products for their budgets. 

Mobile Shopping 

No one is surprised. The number of people shopping through smartphones is rising. To be clear, we’re not just talking about buying. Mobile shopping also includes product research on blogs and social media. It includes viewing ads, engaging with influencers, and bonus hunting. 

More people own smartphones than PC computers. In some countries, up to 90% of the population access the Internet through a mobile device. Fortunately, shopping through a smartphone is full of benefits. 

Retailers love to personalize the shopping experience of their mobile customers. They design their apps in a way that allows you to view your favorite products first. You can also favorite certain items or add them to your shopping wish list.

Mobile shopping also attracts great discounts. You’ve probably already witnessed this. Most stores ask you to download their apps constantly. Some of them are willing to give you discounts for the holidays if you finally download their apps.

Social Commerce Discounts

Consumers everywhere are always looking for ways to shop online conveniently. Social commerce provides an easier way to buy online without logging out of your favorite social network.

Instagram is the social network of choice for people looking for discounts during the 2023 Holiday season. Instagram features a tool to help you buy products on its platform. Or you could check a product on the store’s official website. 

With the social commerce trend soaring, more and more retailers are rolling out discounts to Instagram users. Discounts attract people’s attention. They also motivate them to follow a brand’s social media pages and buy from them.

Social commerce isn’t just a fad. With most apps allowing sellers to advertise and hold live sales, people will continue shopping on social networks.

Online Shopping with a Human Touch

Although online shopping keeps growing, a large number of buyers are also yearning for in-person shopping. For some, in-store shopping allows for human interactions. For others, it’s a great way to ensure you buy exactly what you want.

Either way, this Omni channel shopping strategy is a win for both retailers and shoppers. Stores can increase sales by allowing buyers to reserve products online and pick them up at their favorite store.

On the other hand, shoppers can visit brick-and-mortar stores to check out items they want to buy. While there, they can compare prices online, look for coupon codes, and then decide whether to complete their purchases. 

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