Only 55% of retailers believe that the December 2022 trading period is of the highest importance to their company's overall performance. Over the last decade, December has become less critical as businesses increasingly extend their promotional period earlier into the year to encompass events like Black Friday and Cyber Monday.

Rising inflation tempering confidence in YoY sales growth. In comparison to 80% in 2021, 67% of retailers in 2022 expect sales growth as they face higher business costs, increased wage pressures, and continued supply chain difficulties. This year, growth will likely be driven by pricing increases rather than volume increases, as consumers face inflation pressures of their own with a rising cost of living and are more conscious of carving out their wallet share.

Online sales are expected to slow down for the first time since 2018. Across 2020 and 2021, online was the main route to market, so it’s no surprise that the channel is expected to slow down this season. As customers seek out interaction in a hark back to pre-pandemic shopping behaviours, investments in exceptional in-store experiences are in vogue.

Conscious consumerism is on the rise and has been identified as a critical driver in purchasing decisions by Millennials and Gen Z – who are wielding a large share of purchasing power as a growing group of the consumer population. Discover the difference authentic ESG and circular business models can make on your bottom line. Tap into our insights by downloading the report today.