The only complaint from marketers attending this year’s eTail West wasn’t associated with the event itself -- it was that it rained on Monday. As an eTail virgin, I left feeling inspired, enlightened, and … exhausted! I was most impressed by the number of honest discussions around the challenges retailers face and how combining data and innovation is driving businesses forward.
Another holiday season is over and we are uncovering valuable data intelligence that will determine the success of 2016 Peak’s retail performance. Early indicators suggest that the season seems to have been respectable with some estimates in the 3 to 4 percent growth range. More notably, the growth for online spend appears to be more than double that overall figure, in the neighborhood of 7 to 10 percent. This is attributable to the astonishing 80% of Americans who are now online shoppers according to a Pew Research Study. This shift affected some of America’s most well-known brands and resulted in many store closures for traditional, marquee retailers such as Macy’s, Kmart and Sears. In addition, some retailers are taking it as far as eliminating all brick-and-mortar locations like The Limited’s recent announcement to close all stores nationwide immediately. Now we find ourselves in the dawn of a new era where the brick-and-mortar store begins to fade as e-commerce often out-performs in-store on pricing and wins the sale.
We are only 7 days away from Christmas and the clocks are counting down until December 24th when the last gift is carefully wrapped and placed under the beautifully decorated tree. Are your final marketing messages hanging together by a few fragmented needles or will they be shining brightly as the clock ticks to midnight on Christmas Eve? We’re feeling the excitement of the season building as marketers make their final push with special announcements touting deeply discounted offers – just in time to make our holidays shine.
It’s time to come up for air for a brief moment and reflect on the biggest retail weekend of the year. During this critical sales period, it’s important to know what trends are ringing true this holiday season. Let’s take a look at some of the key findings we are seeing from sales figures and our holiday research thus far.