Omnichannel

Retailers worried about inflation impact on holiday sales

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October 17, 2023

While more than half of retailers, 51.89%, aren't worried about the influx of store closures impacting holiday sales, a hefty majority, 74.53% are worried sales could be negatively impacted by economic factors.

Those are findings from a survey from Lightspeed Commerce called "2023 Holiday Outlook Brand Survey."

Lightspeed is a POS and payment platform called NuOrder. The survey polled over 100 apparel, footwear, luxury, beauty, outdoor goods, home furnishings and accessories retailers, according to a press release.

"Due to the increase in store closures, brands will need to offset the lack of product in those stores so that they can still grow," Michael Ganci, SVP of B2B Go-To-Market at Lightspeed, said in the release. "At the same time, buyers are being more selective and are stocking profitable styles over higher risk trend items. This means that brands will need to focus on selling more of their assortments through high performing retail partners or find alternative retailers to bridge the gap."