We conducted a data analysis of consumer trends from October through December 2020. Here’s a preview of our “Q4 2020 Consumer Trends Report.”
A Different Type of Holiday Season
While the COVID-19 pandemic has changed consumer behavior significantly, Q4 2020 looked to be promising with the start of the holiday season. Online shopping continued to dominate consumer spending, but retail sales, which saw a 1.1% drop, were flat in December 2020 compared to November 2020. Even though consumer spending was lackluster in Q4, Americans still love to shop in-store – whether out of necessity, while gift shopping, or perhaps just to get out of the house.
Shopping had the most visits compared to the other categories, and even saw a slight increase in visits in December compared to the previous two months. It is interesting to note that, despite the holiday season, fewer consumers visited stores in December than in July and August. Consumers also visited parks and wilderness areas (despite the colder temperatures), shopped at grocery stores, and visited restaurants. Like much of 2020, visits to entertainment and arts venues were the most impacted due to postponed or canceled concerts, shows, and games across the country.
WHAT IS INCLUDED IN THE FULL REPORT?
The full report includes a detailed analysis of trends related to the following categories:
- Outdoors & Recreation