With the start of the holiday shopping season on the horizon, RetailNext is forecasting a modest sales gain in retail sales during November and December.
According to RetailNext, sales during the November/December time frame will grow 2.8%, driven by a 16.2% increase in digital channel sales. Brick-and-mortar sales are expected to vary by segment, with increases in electronics, fast fashion, outlets and warehouse/clubs, but decreases of 7% to 8% across most other channels, RetailNext said.
“Today’s shopping journeys require retailers to seamlessly share knowledge internally between digital/mobile and physical channels to optimize sales for the enterprise,” said Shelley Kohan, vp/retail consulting at RetailNext. “Effectively implementing quick action strategies converging digital and physical channel experiences will build brand loyalty and drive sales, and more important than anything else, it will determine the retail industry’s holiday winners and losers.”
According to Kohan, retailers that “reimagine” Thanksgiving will start the season strong as the holiday is now a weeklong endeavor.
“Planning accordingly will eliminate reactionary price reductions that diminish margins,” she said. “While Black Friday, Super Saturday and Cyber Monday will still have starring roles, the best strategy to optimize sales will be with a well-laid out plan for the week.”