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Retail Sales Grew 3% Over Extended Holiday Purchase Period — And the Season Isn’t Over Yet

Retail TouchPoints

In fact, the impacts of the most unique holiday in decades are still being felt: retailers should plan for continued shipping delays in the short term, and also continue to refine their omnichannel operations as they prepare for the rest of 2021. Retail sales grew 3% during the extended holiday season (Oct. 11 through Dec.

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Black Friday 2020 In-Store Traffic: An Expected Result in an Unexpected Season

Retail TouchPoints

27) dropped considerably in comparison to last year. Since the numbers are high for early shoppers and the majority of those surveyed said that they were not going to visit stores, the actual traffic results should not come as any surprise. Retailers are already warning shoppers to get out early to avoid shipping delays.

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Consumers Turn to BNPL, BOPIS to Cope with Rising Prices and Supply Chain Uncertainty

Retail TouchPoints

toy industry sales increased 11% in Q3 2021 from 2020, according to the NPD Group , driven by price increases, a continuation of pandemic lifestyles and fewer promotions. In the last decade, there has been 5X higher growth in debit card volume than credit cards, and in the previous year or two, spending on credit cards dropped 50%.”.

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15 Tips to Succeed as Brick-and-Mortar Retail Reopens

Wiser

Make sure everyone knows the plan—and is able to execute that plan—to ensure that you’ve got merchandiser support when you need it. 4: Use Promotions and Markdowns to Move Seasonal Inventory. Instead, a lot of that has been left sitting in the back of stores or warehouses and needs to go somewhere once you open again.

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Retail Consumer Behavior Patterns and Shifting Dynamics: The Future of Retail & Retail Trends

RETAIL MANAGEMENT SOFTWARE

You may want to consider creating a hashtag for people who want to tweet their latest photos or hire a social media influencer to promote your brands, customer stories, catalogs, new arrivals, etc. Self-service check-ins and checkouts have become the new norm, saving time and money for retailers. Personalization in the data mining age.

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3 Expert Perspectives on Why Margin, Experience and Loyalty Will be Key to Winning Holiday 2022

Retail TouchPoints

KPMG’s survey of retail leaders found that 68% of respondents expect sales to improve over last year, while only 24% expect a drop in sales. Retailers are planning to cut back in one area: marketing. Companies plan to spend 30% of their marketing budget during the holidays, down from 36% in 2021.

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How Smaller Assortments, Lower Inventory Levels Can Maximize Post-COVID Success

Retail TouchPoints

Retailers will need to spread out their promotions so people can buy over longer periods of time, with less traffic. Also, a lot of promotional offers in the past had been focused on a deep, deep discount on a single item or category. The worst thing you can do is take the order and not be able to ship it.