NEW
YORK (AP) =As shoppers have bought TVs and toys so far this holiday
season, they've shown a desire for deals but also an inclination for
some impulse spending, retail experts say.
Shoppers
were on track to spend more compared to last year. The National Retail
Federation trade group called spending so far "robust," and reiterated
its forecast that holiday sales will rise by up to 4 percent.
More
than one-third of shoppers surveyed by the NRF planned to make all
their purchases on sale over the five days of Thanksgiving to Cyber
Monday. That's similar to last year, and up from 11 percent in 2015.
But
shoppers appeared to be buying on a whim also. Marshal Cohen, chief
industry analyst at market research firm NPD Group, said based on what
he and his team saw at stores last weekend, "there's no question there
was more impulse buying and self-gifting."
Here are other details from the season so far:
DISCOUNTS
The
discounts appeared slightly smaller this year on Thanksgiving and Black
Friday compared to last year, according to research firm Market Track
LLC. It analyzed Black Friday circulars at retailers including Walmart,
Target, Sears and Best Buy and found that the advertised discounts
averaged 45 percent this year compared to 48 percent last year.
"Shopper
are looking for deals, but there wasn't significant price slashing,"
said Ryne Misso, Market Track's director of marketing. He noted that
stores tried to simplify discounts by offering blanket sales and doing
less bundling, such as offering two-for-one deals.
But
there were bargains to be had. On Saturday at the Garden State Plaza in
Paramus, New Jersey, stores from Macy's to J.C. Penney slashed prices
at least 40 percent in many departments. And Macy's had a display of
coats at 80 percent off. On Cyber Monday, 89 percent of orders came with
free shipping, up just slightly from last year, says Salesforce, which
tracks the buying activity of 500 million global shoppers.
IMPULSE SHOPPING
As
online buying has made shoppers, armed with mobile phones, more
purposeful, retailers from Target to Saks Fifth Avenue are making a
bigger push to offer grab-and-go items.
Target
has set up kiosks stocked with items like fun socks and beauty items
throughout the store. J.C. Penney has "Penney Lane" kiosks filled with
items under $10 like air fresheners and adult coloring books. And luxury
retailer Neiman Marcus has grab-and-go gifts too, but they're under
$200. They include a unicorn-shaped body pillow for $35 and fingerless
fur mittens for $70.
ONLINE SHOPPING ERODES STORE BUYING
Amazon
said Wednesday that Cyber Monday was the biggest shopping day in its
history, but didn't provide figures. But analysts reportedly estimated
$1 billion in revenue for its Prime Day event in July. It also said
Cyber Monday orders on its app jumped more than 50 percent from a year
ago. Online buying from Nov. 1 to Monday was up 17 percent from a year
ago to $50 billion, says Adobe Analytics, the research arm of the
software maker.
Mobile
shopping accounted for nearly 46 percent of retail visits and 40
percent of revenue on Cyber Monday, compared with nearly 43 percent of
retail visits and 27 percent of revenue on the same day last year, says
Adobe.
For
the five-day holiday kickoff, NRF estimated that more than 64 million
shopped online or in stores. In addition, more than 58 million shopped
online only, while more than 51 million shopped in stores only.
Overall
spending rose 11.3 percent, while retail spending, which excludes
grocery stores, auto parts merchants and gas stations, was up 8 percent
during the five-day period ended Cyber Monday, according to First Data, a
technology firm. It analyzes online and in-store payments across
different forms of cards from 1.3 million merchants.
But
e-commerce sales helped drive that growth. Sales at brick and mortar
stores rose 6.5 percent, while e-commerce sales were up 15 percent. As a
result, online sales accounted for 29 percent of total spending for the
five-day period, up from 25 percent a year ago. Electronics and
appliances and specialty retailers were the only two categories among
the seven First Data tracks to show higher sales growth in stores
compared with online.
Store
traffic, though, has continued to fall. Shopper visits were down by 1.6
percent on Black Friday, compared with a 1 percent drop in the prior
year, according to research firm ShopperTrak. It calls the declines "far
less substantial" this year and last than in earlier years.
Stores
and malls have tried to make themselves places people want to be, like
offering free massages and concerts. Malls operated by CBL Properties
had DJs and free giveaways. "It created a more festive environment,"
said spokeswoman Stacey Keating. "People were dancing with Santa in the
common area of the mall."
No comments:
Post a Comment