Retail Holiday Guide
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As predicted, consumers continue to make purchase decisions with a new, more frugal outlook, following the recession. This trend becomes painfully obvious as we move into the winter holiday season. in ...
As predicted, consumers continue to make purchase decisions with a new, more frugal outlook, following the recession. This trend becomes painfully obvious as we move into the winter holiday season. in 2012,more than one third of consumers spent less money than budgeted
on holiday gifts, according to Trendsource in its holiday shopping outcomes report. additionally, the majority of shoppers purchased more than half of their gifts on sale.
Some industry experts are expressing a more positive outlook about the 2013 season: larry freed, ceo, ForeSee Results, noted: “Tax breaks last year took money out of consumers’ pockets, but there has been little talk of the impact that will have on holiday spending this year; however, i think spending will hold steady or will increase slightly thisholiday season for the following reasons: The dip in paychecks due to the January 1st tax implications didn’t seem to have a negative impact on spending so far this year. additionally, the economy has somewhat stabilized and consumers’ concern about the next financial pothole don’t seem to be top of mind.”
Additionally, greg buzek, president, IHL Group stated: “Our
economy remains one of the haves and have-nots.
unfortunately, unemployment and lack of a blockbuster item will keep growth modest. we are predicting about 3% growth, which reflects population changes and some modest increase in customer sentiment. Those that have jobs are a lot less concerned with losing them this year, however, uncertainty in health care costs going forward in 2014 has many concerned.”
Retailers need to keep these economic factors in mind as they plan2013 holiday strategies. a two-sided focus on improving bothbusiness efficiency and customer experience will be the drivers of success this year with those goals in mind, merchants are drilling down to define plans
for holiday marketing, merchandising, inventory optimization and staffing, mobile technology and social media will play increasingly important roles in holiday strategies as they cement their importance year-round.
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