What’s Your Role This Coming Black Friday?
Jennifer Nietz - Manager of Operations
November 2013 – It is hard to believe that Black Friday is right around the corner. Despite your enthusiasm or lack thereof that stores are going to be open at 8pm on Thanksgiving evening; it’s easy to forget that the shopping season provides a lot of opportunities for the organizations that we work for to do business into the retail industry. This month’s article focuses on some key predictions and statistics surrounding the retail industry this holiday season and some ways that your organization could potentially support the retail industry with products and services.
This holiday season department stores are expecting to see an increase in consumer traffic and recover from the first half of 2013. IBISWorld is predicting our per capita disposable income to increase by 2% in 2014! This will result in our consumer confidence increasing, resulting in more spending at stores and online. Those stores that integrate an online portal for customers to shop will come through the season ahead of the curve as the online shopping this year is going to be up 13% to 15% according to the National Retail Federation.
What does this mean for you and your business? Retail stores are working to find a way to increase their visibility amongst their consumers. They are spending more for advertising and increasing promotions to get you in the door. If your organization is involved in mobility or technology you may find that this is an excellent market, as the stores are finding ways to make the shopping experience more mobile and easy. Mobile computers and tablets used by sales associates will allow consumers to check out as you pick up the item to avoid lines. Security is another area that retailers will need to take into consideration as more people shop online; they are required to have certain compliance measures in place for credit card purchases via web. Increasing and enhancing the amount of technology on-site will be another area that should see some growth. If you sell equipment or software that is utilized in the retail industry you may want to integrate more retail marketing into your business development strategy.
The 2013 holiday shopping season we will see a total rise in holiday sales of an estimated 3.9%, from 2012. With this news I will send you on your way, rather it be growing your business or shopping for your loved ones; I wish you and your family all the best and Happy Thanksgiving.
Questions or comments? Please contact Jennifer Nietz at jnietz@teamCOACT.com.