Extended retail hours may not be a winning strategy, claims IBM
Retailers extending store hours may not find it a winning proposition, according to IBM holiday season predictions, and they will likely have the weather to blame.
According to IBM, shoppers in colder areas (think Boston, Chicago) will choose not to shop early in the morning, given the lower temperatures. That means retailers opening before traditional hours will find shopper traffic light.
Retailers should also be aware that shoppers this year are visiting a wider variety of physical stores in a single day compared to last year and are willing to travel further to make a purchase.
Consumers in warmer climates will likely be spending more time online than those in cooler climates, just about one minute more, according to a press release. Here is IBM's list of all 20 cities and how residents in these locations are shopping across eight different industry sectors.
Topics: Consumer Behavior
Companies: IBM Corporation