While Deloitte forecasts an 11 to 15% increase in 2021 holiday e-commerce sales. e-Businesses are approaching this important part of the year with several changes.
First of all, the dramatic shift to online commerce in a short period of time, in large due part to the global COVID-19 pandemic, that has forced businesses of all sizes to **expand their online presence **as a percentage of sales in order to survive.
Secondly, Google is going to initiate the process of eliminating third-party cookies by 2023. This has resulted in businesses having less intelligent data about their customers' online buying behaviors and therefore having less ability to respond with relevant offers and information to encourage sales.
Finally, according to Gartner's annual CMO survey, marketing budgets are projected to be down in 2021 (from 11% to 6.4% of revenues) despite businesses trying to regain momentum after 2020.
What to do, so, to mitigate these challenges and don't miss out business growth?
A good idea is to adopt data oriented strategies that leverage consumers' behaviour and first-party data, mantaining high attention both on customers' privacy and conversions in sales.
Want to know more?