This Week: The Holiday Recap
We can hardly believe the year's almost over...
We hope you had a wonderful holiday! As we make our way toward the new year, we’re reflecting on the highs and lows of 2023 — and looking forward to what seems to be a very bright future. Here are some of the biggest stories this week:
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The Amazon Corner
The Reigning Champ: Amazon Was 2023's Most Popular Online Holiday Shopping Destination
Amazon once again claims the top spot: According to CNBS’s All-America Economic Survey, 57% of consumers did most or all of their holiday shopping online, and of those, 74% preferred Amazon over other retailers. Notably, this is down from an all-time high of 81% in 2019, showing that competitors have worked hard over the past few years to carve out their own corner of the holiday market. According to Amazon, customers purchased an astonishing billion items during the five-day Cyber 5 period.
Coming in at second place in 2023 was Walmart, which was the preferred destination for 16% of those who shopped primarily online, while once-dominant companies like Target and Best Buy saw sharp traffic declines during this year's Cyber 5 period. Of note for smaller sellers is the fact that a substantial number of shoppers (14% of those who shopped primarily online) preferred to patronize local businesses’ websites or Etsy this holiday season.
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Top Retail and E-commerce Stories
One Step Ahead: How Leading Global Shippers Are Preparing for 2024
Modern problems require modern solutions: Faced with market volatility and geopolitical conflict, global shippers are reevaluating their current strategies and investing in new technologies to help them keep things running smoothly in 2024. According to the online logistics platform Container xChange, “fierce competition, reduced profits, and possible mergers and acquisitions” may characterize the global shipping landscape next year.
Supply chain diversification is one major factor impacting the industry, with many companies choosing to adopt a “China Plus One” approach — while they’re not shifting away from Chinese manufacturers entirely, many U.S.-based importers are now adding India, Pakistan, and countries in Southeast Asia to their list of global partners. Despite the shakeups, 74% of supply chain professionals anticipate positive growth in the industry next year, according to a recent Container xChange survey.
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