• Weekly Retail Update: November 21, 2016

  • November 21, 2016
Weekly Retail Update

Ecommerce Sellers Eye Retail Locations 

In an effort to attract a new kind of customer, ecommerce favorites Blue Nile and Rent the Runway are betting on retail stores in the coming weeks. Blue Nile is expanding its retail store plans after a successful trial run, while Rent the Runway is working with Neiman Marcus to launch a showroom in one of their stores this week. With more customers researching online and buying in store, brands are finding that showrooms are the most cost-effective methods for finding new customers. “Most people want to touch, feel and look before they make a purchase. They do like the tactile experience,” said Brendan Witcher, an analyst at Forrester Research. (CNBC)

Cyber Monday’s Growth Set to Make it Largest Shopping Day in History

According to Adobe Digital Insights, Cyber Monday will be the largest online shopping day ever. Online shopping is already expected to be at its highest this year, with 11% expected growth year over year and $91.6 billion in online sales. This year, Cyber Monday is expected to have a YoY growth of 9.4% and is expected to hit $3.36 billion in sales. (Forbes)

Ecommerce is Growing But Many Shoppers Still Prefer In-Store Purchases

According to the Walker Sands Future of Retail 2016 report, many consumers still prefer shopping in a physical store over ecommerce. Though in-store shopping is still prominent, ecommerce growth still has an impressive year over year growth rate, with nearly a third of consumers surveyed saying they shop online about once a week. Walker Sands predicts that eventually ecommerce and physical shopping locations will collide, with more brick-and-mortar stores leaning on mobile and online technology to capture growing sales. (Entrepreneur)

Share on LinkedInTweet about this on TwitterShare on FacebookEmail this to someone
About Holly Pels

Holly Pels is the Content Strategy Manager at RICS. When she isn't planning out the awesome content you see on the RICS site, you can find her playing soccer, baking, or drinking champagne.