Ready, Or Not...
Posted by ranirichardson filed under retail trends, holiday season 0 Comment(s) Add a Comment
The 2014 holiday season is right around the corner. We perused recent business articles in search of holiday retail trends and here are a few of the predictions.
There are only 26 days between Black Friday and Christmas this year, but retailers are trying to expand the season. It's obvious how: by beginning the season earlier and adding more hours to each day. Toy and big box stores already have their "best" lists ready. Our local Belk department store has started decorating. You might not be in favor of the trend, but perhaps you can prime the pump with some strategic promotions and examine your holiday schedule right away.1
Internet shopping and browsing is up, which is not surprising. What may be, however, is that many shoppers browse a store on-line before making the decision to go there. Is your on-line experience ready? Also, more shoppers are using tablets and phones for their surfing, so it's very important that your site is ready for multiple devices.2
"Showrooming" is up in every aspect of retailing and as little as a $5 difference can sway a consumer to order on the internet. However, coupons, rebates and loyalty programs are high on the consumer's radar offsetting the lure of internet shopping.3
US consumers intend to spend $646 on gifts this holiday season. This is up 11% from 2102 and 3.5% from 2013. Moreover, 76% plan to start, or do most of their holiday shopping in November.4
The best advice we read stressed the importance of having a knowledgeable, effective sales force in your store.5 Your people are key to providing a highly satisfactory in-store experience for your customers, so they should be as well-trained, dedicated and enthusiastic as those at Disneyworld. In fact, perhaps envisioning and making your store a "magical place" might just be the ticket this holiday season!
1. Money, Sept. 26, 2014; 2. Internet Retailer, June 26, 2014; 3. Chief Marketer, Sept. 2, 2014; 4. Retail Next, Aug. 14, 2014; 5. Retail Trends, Aug. 5, 2014.