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.
Don’t let the threat of dwindling shopping days scare you into thinking that you cannot still find a way to influence purchase decisions with consumers. In our last post we learned how and where consumers are shopping this season and today we are going to share our tips for converting those last-minute consumers into sales.