If you’re very quiet, you can hear it. The festive jingle-jangle of holiday bells getting ever closer, as the most wonderful time of the year approaches. Or is it the satisfied ding of so many cash registers? Either way, we are eagerly anticipating a fruitful shopping season for our retail partners.
By all accounts, this November and December will be more profitable than last year.
According to ICSC’s 2015 Consumer Forecast:
- The shopping season is stretching out over a longer period of time
- More Americans (90 percent vs. 82 percent in 2014) are planning holiday-related purchases
- 80 percent of shoppers are expected to spend the same or more than they did last year
That forecast expects the 2015 season to be stronger than the average of the last ten seasons by 1.5 percentage points. Deloitte’s annual holiday forecast suggests sales will increase 3.5 – 4 percent over last year. Economic experts are crediting an improving labor market, increasing home values and lower gas prices, even though personal income growth has remained largely flat.
The ICSC reports 95 percent of holiday shoppers intend to make a purchase in a physical store this year. Even amongst mobile users, 78 percent plan to do their holiday shopping in-store, according to a survey by SessionM. Deloitte reports the number one reason people plan to shop in stores is the ability to see and touch the product. However, take note: the number one reason respondents reported avoiding physical stores is long lines. Measures like smart store layouts and well-trained employees at the registers can mitigate that turn-off.
For our traditional retailers, may you enjoy a healthy slice of the holiday spending pie. And for our partners in the health and wellness space, may you reap similar rewards in January, when the whole of America intends to work all that pie off.← Back to all posts