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.
According to Nielsen, in its new “Global New Shopper Normal Study,” only 9% of global consumers regularly shopped online before the COVID-19 pandemic. But as movement restrictions pushed consumers indoors, online adoption skyrocketed, with 27% of global consumers starting to shop online for the first time.
According to published reports, Amazon has scheduled Prime Day for October 13.
After reviewing changing customer shopping behaviors and speaking with customers over the past six months, Walmart plans to address three key shopping trends expected for this unique holiday season: an increase in online shopping, evolving wish lists and the need for a fast, easy and safe shopping experience.
In a filing with the United States Securities and Exchange Commission, Kohl’s stated that it has taken action to further align its cost base in response to the business impact of the COVID-19 pandemic, and so reduced corporate positions by approximately 15%.
In its annual holiday forecast, Deloitte anticipates retail sales to increase between 1% and 1.5%, although the consulting firm admits that figuring out what might go on as 2020 ends is particularly uncertain.
In weathering the COVID-19 roiled market, Restoration Hardware easily beat a Wall Street earnings estimate for the second quarter as the company continues on its way to significant margin gains, according to chairman and CEO Gary Friedman.
The home department gave Nordstrom a lift during a challenging second quarter when sales dropped due to the temporary store closures associated with the coronavirus pandemic.
Everyday necessities and electronics have gotten a pandemic boost, and according to Placer.ai, that has led to strong rebounds in store visits to Dollar General, Dollar Tree and Best Buy.
Although it has faced recent challenges with coronavirus-related store closures, TJX could benefit from the market departure of a COVID-19 casualty, according to Placer.ai.
While the normal hustle and bustle of the Atlanta Market summer edition may have been quieter last week, without the market’s trade show element, vendors and buyers visiting the permanent showrooms reported a strong, successful and safe experience amid the continued COVID-19 pandemic.
When it comes to store visitors, Walmart’s recovery from coronavirus-related lows is proceeding more slowly than Target’s and is entangled with home center and dollar store retailers, according to Placer.ai.
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.