Must-know 2024 shopping season insights for marketers: stats & trends

APAC’s e-commerce market is on track to hit $2.0 trillion in 2024¹², driven by the region’s strong mobile-first shopping habits. With 86% of consumers exploring products and 81% making purchases via their phones¹³, mobile has become the dominant channel for holiday shopping. As the season approaches, 60% of Southeast Asians plan to increase their online shopping budgets¹⁴, with Indonesia leading the charge. 75% of consumers across the region keep a close eye on promotions throughout the season³. Indonesia, Taiwan, Japan, Malaysia & India are the top 5 countries with more ‘Single’s Day’ searches in the last 5 years¹⁸. In Indonesia, younger shoppers, particularly those aged 25 to 34, are actively seeking out early deals¹⁵. In Vietnam, apparel and footwear are top priorities¹⁵, offering retailers the opportunity to tap into these demands.

Hybrid and cross-border shopping are integral to the holidays. With 73% of Southeast Asians preferring a blend of online and in-store experiences¹⁴, retailers must provide seamless omnichannel solutions to meet this growing demand. Cross-border e-commerce is especially important in Vietnam, where revenue reached $20.5 billion in 2023¹⁶. Additionally, the increasing adoption of BNPL services across the region, particularly in markets with high unbanked populations like Indonesia and the Philippines¹⁷, presents a major growth opportunity for retailers. 

All in all, those that integrate hybrid shopping, cross-border options, and flexible payment solutions will be best positioned to capture the evolving APAC consumer base this holiday season.

India is all in for the 2024 festive shopping season, with a huge focus on digital⁶. 91% of consumers plan to make festive purchases, with 43% opting to shop via mobile⁷. Among those shoppers, 71% are aged between 25 and 44⁸, highlighting a strong preference for mobile shopping among this key demographic. While consumers like to shop on their phones, there's a growing love for hybrid shopping—54% of consumers mix in-store and online experiences.

Spending is no joke either, with 25% of consumers ready to drop over Rs 50,000⁷ and 47% over Rs 10,000⁹. The cherry on top? India is currently the 4th largest retail market in the world, with the retail sector accounting for over 10% of the country’s GDP¹⁰ and its e-commerce is expected to grow by at least 20%¹¹, making it the perfect time for retailers to step up their game. The message is clear: be ready for mobile shoppers, or risk losing out. 

Cross-border shopping is also notable in Europe. In 2023, 53% of e-shoppers ordered goods from domestic sellers, while 21% sourced items from other EU countries and 13% from sellers outside the EU¹⁹. This aligns with the increasing popularity of direct-from-China apps like Shein, AliExpress, or Temu, which encroached on the market after its European launch in spring 2023²⁰. 

As consumers embrace these platforms for their affordability and accessibility, they are simultaneously becoming more conscious of their purchasing habits, leading to a growing focus on sustainability and convenience. A notable 64% of European consumers are considering second-hand items for their holiday purchases²³, reflecting a growing interest in sustainable options. Online shopping is also favored for its convenience, with 62% of German consumers citing a desire to avoid crowds and the ability to compare prices²⁴. Fast delivery and reliable return policies are essential purchase drivers, particularly in the Netherlands, where 40% of consumers shopped online weekly in 2023, compared to less than 25% in Norway and Finland²⁵ .

As fast delivery and reliable return policies become essential for consumers, they are also motivating shoppers to start their holiday purchases earlier in the season. UK consumers are four times more likely than their US counterparts to begin their holiday shopping before July, with 69% starting by August and 85% by October ²¹. Despite economic concerns, 33.5% of UK consumers who anticipate weaker finances in 2024 still plan to increase their holiday spending ²². Highlighting the importance of a robust online presence in Europe: 40% of Dutch, German, and French consumers research online before making major purchases. 

Latin America is experiencing a retail media boom, with ad spending set to triple by 2028. This surge will account for 15.6% of the region’s digital ad market, highlighting the increasing significance of retail media in driving consumer engagement²⁶. As the region’s digital economy expands, Brazil is the largest retail e-commerce market in Latin America and the third-fastest-growing digital economy globally, trailing only the Philippines and Malaysia²⁷. An expected 10% growth in revenue for Black Friday 2024, driven by a 14% increase in order volume, underscores the dynamic nature of Brazil's online shopping landscape²⁶. 

In Colombia, the March 2024 ‘Hot Sale’ saw a 30% increase in user participation²⁸, suggesting that consumer interest in online shopping is growing. In Mexico, the 2023 ‘Buen Fin’ campaign generated impressive sales, reaching 151,000 million pesos, with four out of ten companies reporting a 15% increase in sales²⁹. This aligns with the overall trend of rising online shopping revenues in Latin America, as demonstrated by Brazil’s e-commerce growth, which saw revenues climb to nearly 186 billion Brazilian reals in 2023—more than double the figure from 2019 and reflecting a 9.5% increase over 2022³⁰. These statistics highlight a significant opportunity, driven by evolving shopping behaviors. Hybrid shopping is becoming the norm, as 45% of Brazilian consumers plan to combine physical and digital experiences³¹. Retailers will have to adapt their strategies accordingly. 

The 2024 holiday shopping season in the U.S. is set to achieve impressive figures, with online sales projected to reach $240.8 billion from November 1 to December 31, reflecting an 8.4% year-over-year growth ³². The average spend during the Cyber Five period in 2023 was $321.41³⁵, further underscoring the robust consumer spending habits this season.

Digging into consumer behavior, there has been an increase in early holiday shopping. In 2024, 34% of U.S. consumers started their holiday shopping by July, a rise from 28% in July 2023³⁶. This trend indicates a growing willingness among shoppers to plan ahead, likely driven by the desire to secure better deals and avoid last-minute rushes. Additionally, online shoppers are generally willing to spend an average of $40 to qualify for free shipping, demonstrating the importance of shipping incentives in driving purchasing decisions³⁷. These two factors are pivotal for retailers looking to be competitive.