Oct is the month when holiday shopping starts, says PayPal


  • TECH
  • Thursday, 03 Oct 2013

Smart shoppers and ever smarter retailers should start thinking and planning for the holiday season shopping deals now.

This is so as according to PayPal's 'Skip the Queues' survey, year-end holiday shopping fever starts as early as October, and that this month has now joined the ranks of November and December as key months for year-end festive shopping.

It says that technology is fundamentally changing the retail calendar, with holiday shopping now starting earlier and ending later. And that more people are shopping beyond their borders, including Malaysian shoppers.

"Consumers who plan ahead to get in early will get to skip the queues, snag the best deals from retailers selling from around the world, and get their shopping delivered well ahead of the festivities," said the company in statement.

Similarly, PayPal said that merchants can get ahead of the global demand and capitalise on it, by ensuring their sites are mobile-ready, that their logistics and stocks are in order with a globally trusted, seamless and secure payments platform.

"Online holiday deals start now and consumers are still hungry to snap up the best offers available, but today they’re shopping from a global marketplace—not just at shopping malls," said PayPal in a statement.

It said that Malaysians are similarly following the global trend and are shopping beyond their borders, taking opportunities to get deals even from the US holiday shopping season such as Black Friday to Cyber Monday, - a four-day period whihc is one of the largest shopping long weekends in the US.

(This year's Black Friday falls on Nov 29 while Cyber Monday is on Dec 2.)

"Savvy Malaysian shoppers know that such sales are no longer exclusive to US consumers and that they can now participate in super sales by their favourite brands, whether it’s Ralph Lauren, J.Crew, Saks or promotions on eBay," it said.

PayPal's recently released  Modern Day Spice Routes report also says that 94 million consumers are shopping online beyond their borders, with the global cross border shopping opportunity projected to be worth more than US$100bil (RM300bil) in the top six markets alone.

"This is also an incredible opportunity for merchants in Malaysia who are selling internationally to tap into the festive shopping phenomenon being observed around the world." it said.

According Skip the Queues survey, the five most popular shopping categories during the end year shopping bonanza period last year for Malaysians were clothing (46%), bags and accessories (43%), electronic gadgets (38%), shoes (35%), and fragrances (29%).

The survey also showed that over 68% of Malaysian consumers would shop on their mobile devices over the festive shopping season. Thus, merchants had a huge opportunity to capitalise on these trends and meet consumer demands to drive local and international sales, it said.

 

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