A 2% increase in holiday sales may not sound like much, but with unemployment still running rampant through the US, it’s good news for retailers. Financial consultants Deloitte, are joining those that went before them saying that there will be an increase in spending this year and that much of it will be due to the online sector.
Carl Steidtmann, Deloitte’s chief economist says,
“Should consumers receive good tidings later this season in the way of falling energy prices or additional stock market gains, they may be able to lend retailers a bit more holiday cheer. However, given the unsteady pace of economic recovery, retailers should expect only a small uptick in holiday sales this year.”
Deloitte predicts the final numbers will fall in the $852 billion dollar range, up not only from last year, but an improvement over last year’s gain, which was only 1%.
The big winners for the holiday season will be “non-store” retailing of which 2/3 is online, the rest from catalogs and shopping on TV. The increase here is expected to be 15%.
When it comes to in-store sales, Deloitte says that online and mobile will have more influence over the numbers than ever before. They say marketers should prepare a tightly-integrated campaign that connects the online and in-store promos in order to maximize sales.
Alison Paul, vice chairman and Deloitte’s retail sector leader in the United States says,
“Retailers should be out in front of consumers to get their attention and strike a connection with their brand early and often.”
Early? Seeing as Christmas is only 95 days away, if you haven’t already started campaigning, you’re already running late.
For more information about Deloitte’s retail practice, visit www.deloitte.com/us/retail.