Despite a difficult year, Coresight Research noted that far fewer retailers closed their doors in 2020 than many observers anticipated, including Coresight itself.
Coresight Research indicated that e-commerce in the United States didn’t just grow in 2020 it jumped all the way to 2023.
Preliminary reports suggest that, although sales gained online, brick and mortar retail wasn’t quite as vibrant on Black Friday as in years past, although that might be a good thing.
This holiday season, getting products from vendors to customers could be a tough proposition, with major shippers already announcing surcharges and closing out service slots while international replenishment faces backups as retailers try to build inventory after having to deal with COVID-19 pandemic issues.
September retail sales results hold positive prospects for the holiday season, according to Deborah Weinswig, CEO and founder of Coresight Research and Alex Fitzgerald, a principal in the consumer practice at Kearney, a global management consulting firm.
As it evaluates gift-giving season, Coresight Research has estimated that total retail sales in the United States will increase by about 5% year over year during the holiday period, boosting total October through December sales to $1.1 trillion.
With participants including Kroger and Ulta, Coresight Research, in cooperation with Shopkick, a shopping rewards app, and Fashwire, a B2B and B2C global fashion marketplace, is launching a “shopping holiday” dubbed the 10.10 Shopping Festival on October 9 to 12, and including October 10, or 10.10.
According to published reports, Amazon has scheduled Prime Day for October 13.
A recent Coresight Research study suggests that this upcoming holiday season will be one when previous trends will reverse or shift as consumers consider how they feel about where and when they spend money.
According to Coresight Research, 8.1% of consumers who plan to spend money on back-to-school this year will spend much more and 20.5% will spend slightly more compared to the buying season in 2019.
The Retail Robustness Index is a Coresight Research effort to determine which retailers are best able to cope with the coronavirus crisis and Costco now ranking second might not surprise anyone.
After a series of occurrences, including trade disputes, the COVID-19 pandemic and political conflicts, consumers in the U.S. are looking at China-made products in a more negative light, according to Coresight Research.
According to Coresight Research, almost half of consumers have a negative view of Made in China products.
According to the latest Coronavirus Insights U.S. Survey report from Coresight Research, consumers remain wary of how the COVID-19 outbreak and measures to contain it will proceed, with online retail again benefiting from their concern.
In a May 6 survey, more consumers expressed a willingness to shop retail stores, but most remain wary, according to Coresight Research.
Although shopping habits have necessarily changed in the fight against the COVID-19 pandemic, a Coresight Research study indicated that almost half of consumers expect that the things they are doing because of the outbreak will remain critical to their future shopping habits.
According to Coresight Research’s Holiday 2019: U.S. Shopper Survey, tariffs have become an issue for consumers in the U.S. who are evaluating year-end gift spending, and their thinking may throw a dark cloud over the season’s prospects.
A Coresight Research Insight Report asserts that major retailers in the U.S. have announced 7,567 store closures so far this year compared with 5,524 stores all of last year, but it isn’t all bad news.
According to Coresight Research, Amazon.com is building a big beauty and personal care business, particularly with younger shoppers.