The holidays are more than just a time for gift giving and family gatherings. For many retailers, it’s also the time of year when opportunity for profit is greatest. Since this is the case, many retailers and wholesalers keep a close eye on market predictions for the upcoming holiday season as a cue on what and how much to stock their shelves.
With Black Friday, Cyber Monday and the Christmas holiday rush fast approaching, those reports are already starting to surface and from the looks of it, 2017 is shaping up to be a pretty stellar shopping season.
Research firm Deloitte predicts that the retail holiday season will see sales top $1 trillion between November and January this year.
Everything from an improved economy, to the weather, will play a role in the increase in consumer spending this year. Here are some ways to ensure you’re prepared.
Each year we see holiday promotions happening sooner and sooner. It used to be that Halloween decorations and products would sit on the shelves through October 31, and then we’d see the Thanksgiving and maybe Christmas options hit shelves. However, we’ve seen holiday marketing in-stores happening as early as late summer for Christmas items. This advance has put the idea of shopping on consumers’ minds earlier than usual and many people are already doing their holiday shopping despite the fact that turkey hasn’t been served yet.
Retailers wanting to grab hold of opportunities will begin their in-store promotions early as well. Consider setting up an area of your site, or your brick and mortar location that spotlights some advanced holiday deals to capture some of the spending already happening.
E-commerce & Mobile
Each year the amount of people shopping online without ever leaving their homes rises. Sophistication in technologies means easier to shop websites and payment options. This will continue in 2017 with more consumers admitting to using their mobile devices to handle all of their shopping needs from research to purchase.
For retailers, having a website that offers an easy and consistent user experience is vital. You’ll want to ensure your mobile site is also capable of handling traffic increases as days like Cyber Monday will likely see a rise in activity.
Millennials Focus on In-Store Shopping
One interesting thing that’s being seen is the fact that millennials are starting to return to in-store shopping during the holidays. The idea is to browse in person for gifts and tangible goods. For those who sell products at a retail location, this is a great time to impress and stock up with items that interest this market.
At Best Handbag Wholesale, we strive to offer low wholesale prices to keep your customers, and your margins, happy. Shop today!