Meanwhile, consumers are making retail therapy free by filling their virtual shopping carts without actually buying anything. According to Forrester, “cart abandonment” is a practice that costs online brands $18 billion in lost sales per year. YPulse’s Retail’s New Reality trend report found that 51% of 13-39-year-olds left items in a shopping cart to purchase later while online shopping, and research from Baymard Institute shows that cart abandonment has been “on the rise” since the pandemic started especially in the fashion sector. For shoppers on a tight budget this year, it’s served as an alternative form of retail therapy or “fantasy shopping” full of travel gear, vacation packages, photography equipment, art supplies, jewelry, makeup, hair products, luxury bath robes, specialty food items, and cooking tools. By doing this, they’re “imagining a different world” and filling the void left by canceled plans and “endless uncertainty.” (VICE)
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