Will Santa Deliver Relief in Retail?
The holiday season has kicked into high gear this week, and retailers are looking for Santa to deliver some much-needed relief following a tumultuous year. Their holiday wish? That surging consumer confidence and low unemployment will translate into a historically strong shopping season.
Despite retailers’ optimism, leading incumbents are worried about snagging their share of the holiday feast. Facing increasing competition from online sellers, brick and mortar retailers are feeling the pressure to develop new ways to encourage customers to shop in-store. Nordstrom hopes that offering exclusive product and services at their “pop in’s” and 24/7 curbside pickup from December 16th to Christmas Eve will land them on consumers’ nice lists. This year, Walmart will be hosting in-store holiday parties, and are looking to leverage their online channel to drive additional in-store sales by offering a “pickup discount” to shoppers who pickup online purchases in-store.
When the snow settles, these holiday efforts should lead to interesting innovations in how retailers meet consumer expectations, setting the stage for an exciting 2018.
For more of our thoughts on holiday outlook, we teamed up with ABC Chicago news here.