CEO Mark Tritton has taken the reins at Bed Bath & Beyond, only recently restructuring the retailer’s executive leadership, in time to report that third quarter results slipped into the red.
For the holidays, Jetblack, the text-based, concierge-style e-commerce service that emerged from Walmart’s Store No. 8 business incubator to serve luxury-oriented urban shoppers, exclusively in New York City so far, has been watching, and sharing with HomeWorld Business, holiday home shopping trends.
Wayfair has reported a 36% increase year over year in direct retail gross sales, defined as dollars of order intake, for the five-day peak shopping period of Thanksgiving Day through Cyber Monday. Black Friday and Cyber Monday were Wayfair’s highest revenue days ever, the company said.
Black Friday remains a meaningful date even as retailers stretch out the promotion to as long as a week. About 17% of consumers responding to The NPD Group’s 2019 Holiday Purchase Intentions Survey said they plan to wait to start their holiday shopping on Black Friday itself.
More than half of consumers began shopping for the holiday by the first week of November and almost a quarter of purchases were made by then, according to an annual survey published by the National Retail Federation and Prosper Insights & Analytics.
The third quarter was a tough one for Macy’s, so much so that the company reduced its full-year earnings per share guidance by 28 cents and its comparable store sales from flat to slightly up to negative territory, down 1.5% to 1% in its owned plus licensed stores.
With the holidays coming, Meijer has set a series of promotions for the week of Thanksgiving and through Black Friday weekend and the return of a Santa Bucks special savings event on Saturday, November 30.
Eureka Ergonomic is launching ergonomic gaming desk deals for the holiday season.
Although economic uncertainty and a shorter timeframe will weigh on year-end seasonal purchasing, eMarketer is forecasting total holiday retail sales growth of 3.8% to $1.01 trillion versus 2.4% in 2018.
The consumer spend will gain but experiences continue to weigh against product purchasing as the holiday season approaches, according to Deloitte’s annual Holiday Survey. Two-thirds of respondents stated that they plan to spend on travel or socializing outside their homes as part of their year-end festivities.
Lowe’s is tying Super Bowl tickets into its Black Friday promotion.
For its three-day Black Friday promotional event, beginning November 28, Bed Bath & Beyond will, for the first time, offer customers a 25% off entire purchase in-store only coupon.
A big proportion of consumers are looking for gift giving ideas for the holidays, giving retailers a sales opportunity, according to the 2019 “Holiday Season Shopping Report” from Periscope by McKinsey, which undertakes marketing and sales analytics.
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.