Holiday sales predicted to increase
Deloitte recently shared their forecast that holiday sales are expected to increase between 3.5 percent and 4 percent as the economy and the presidential election loom this fall. The modest increase is short of last year's growth rate of 5.9 percent. Additionally, Deloitte forecasts a 15 percent to 17 percent percent increase in non-store sales, which is primarily attributable to ecommerce.
The non-store sales experience is critical to driving consumers' successful purchases online as well as in-store. "Non-store sales continue to outpace overall growth, but increasingly influence consumers' experience with the retail store, from trip planning, to in-store product research, and post-purchase reviews and sharing," said Alison Paul, vice chairman, Deloitte LLP and retail & distribution sector leader in a recent article.
Consumers will be looking for retailers to "wow" them on all levels and also expect pricing transparency. Alison Paul refers to this as "omni-channel pricing strategies" and indicates that Deloitte anticipates retailers to finally align pricing across all channels — in-store, online, and mobile. This will be a boon to consumers — saving them time in their shopping research as well as saving them money.
Annamaria Turano AnnaMaria Turano is a partner of MCAworks, a strategic marketing consulting firm based in Westport, CT. She develops insight-driven customer value propositions and strategic marketing plans for companies such as MasterCard, PepsiCo, Pfizer, Subway and Verizon. She is an Adjunct Professor of Marketing at NYUs Sterns School of Business, and is co-author of "StopWatch Marketing." www