Holiday Forecast: Mostly Sunny
Caroline Kennedy -- Gifts and Dec, 11/1/2011 2:00:00 AM
Caroline Kennedy
WE ARE IN THE MIDST OF THAT ALL IMPORTANT FOURTH QUARTER, WHICH MANY GIFT RETAIL BUSINESSES COUNT ON TO MAKE A SUCCESSFUL YEAR-END CLOSING. SO, WHAT IS THE RETAIL "WEATHER" FORECAST AHEAD?
Recent reports from the National Retail Federation (NRF) and other retail tracking sources are indicating a relatively good holiday selling season. Of course, for the most part, they are looking at the big guys. But it is not all about the big guys. The NRF's holiday shopping survey conducted by BigResearch indicates that consumers are planning to shop around at a variety of different retailers for their gifting needs - that includes smaller independents.
When it comes to holiday spending, consumers plan to spend slightly less ($704.18 vs. $718.98) than last year; however, they are planning to increase their non-holiday related purchases and spend more on themselves. Thus, the NRF is forecasting that overall holiday retail sales will grow slightly (2.8 percent) during November and December.
While sale prices and discounts still rank tops as a lure for shoppers, the good news for smaller independent retailers is that stellar customer service and quality of merchandise have become "vital components in consumers' decision-making processes." Make sure that your marketing messages emphasize your services and the qualities of your merchandise, especially on your website and through Facebook and email outreach. More consumers plan to research and shop online using mobile and tablet devices; you need to make sure your online presence is effective in reaching those customers to draw them to your store.
Consumers are also trying to "think outside the box" for great gift ideas, according to Pam Goodfellow, consumer insights director of BigResearch. Make sure that your website and/or Facebook page provides suggestions for interesting and creative alternatives to what all the big boxes and department stores have on sale. Finally, what could be more appealing at this time of year, than following the lead of "We Asked" board member, Alison Anderson of A. Dodson's, and promoting your store as "an oasis from the crazed, elbow swinging crowd"?
May you have sunny days ahead and a profitable holiday season.
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