• Weekly Retail Update: November 7, 2016

  • November 7, 2016
Weekly Retail Update

Stores Eye In-store Pickup to Compete with Amazon This Holiday Season

Retailers like Wal-Mart and Target are investing in buy online, pick up in-store in an attempt to stay competitive this holiday season. According to a PwC survey, 21% of Americans say they are regular users of in-store pickup, while 48% said they use it occasionally. Both retail giants are investing in winning customers over by investing in a convenience option for shoppers. “The large store-based retailers realized that if they want to compete with online retailers they need to leverage the strategic asset of the store,” said Steve Barr, retail consultant at PwC. (The Wall Street Journal)

Retailers Will Use Digital Promotions to Draw in Customers this Holiday Season

With an expected 4% increase in holiday sales this year, retailers are trying to figure out how to drive more foot traffic to their store. To help, retailers are turning to digital promotions and integrations. According to the “2016 Holiday Season Forecast” from JLL, 60% of retailers will use email or text to offer discounts, 29% will offer in-store pickup, and 20% will provide free delivery. “It makes sense that retailers are beginning to look at their channels as one cohesive system as opposed to separate entities,” added James Cook, director of retail research, JLL. “In many ways, mobile and e-commerce now serve as the gateway to the physical store driving shoppers in to buy, return or pick-up online orders. Offering similar promotions allows consumers to have a seamless shopping experience.” (CSA)

Many Shoppers Planning to Skip Black Friday

In a recent survey polling 1,000 consumers, 47% of shoppers said they will skip Black Friday and Cyber Monday this year. While 73% of those surveyed planned to do their shopping outside of the holiday shopping season. These results follow the trend from last year of declining sales on Black Friday. “It isn’t online shopping that is killing Black Friday, it’s the fact that consumers have caught on to the hustle,” said Ryan Mathews, CEO of Black Monk Consulting. “Look how many people do their ‘holiday shopping’ after the holidays or even the New Year to capture real discounts.” (Forbes)

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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.