Retail Sector Expects “Modest” Outcome For Black Friday 2016

 

Industry insiders are predicting a much better performance this Black Friday compared to last year, however caution that doesn’t mean Black Friday 2016 will be one for the record books. Deloitte that total holiday sales will rise 3.6 to 4.0 percent year-over-year. Thomson Reuters indicated that its same-store sales index for September 2016 was expected to come in at -0.3 percent. This number is down from growth of 0.8 percent in September 2015.

“The holiday shopping season is one of the most competitive times of the year for retailers, but they also have a big opportunity to drive sales and acquire new customers,” said Dave Richards, global managing director, Accenture’s Retail practice. “The majority of retailers look for ways to extend the holiday season as late as possible, but can face challenges in delivering a physical product in time. Personalized promotions and pushing gift cards are a good way for retailers to continue momentum and stretch this success into the post-holiday season.”

Accenture’s latest survey of global shoppers revealed that a rising intensity that is forcing retailers to adapt more quickly to the shifting retail reality that defines the customer experience. According to the report, adaptability is the new hallmark of successful retail strategies, offering retailers a proactive way to meet the demands of consumers who are racing ahead to embrace an ever more connected and integrated shopping experience.

The National Real Estate Investor cites that that the regional mall REIT CBL & Associates has reported its malls will be closed for the holiday. A  spokesperson for Simon Property Group, the largest regional mall REIT in the country, said that “traditionally there are a handful of malls closed for Thanksgiving, but most of them will be open.”

Nearly 80 percent of shoppers with a mobile device will use it while shopping at stores this holiday season and 90 percent will research their intended purchases online before shopping at a store this year, according to ICSC. Consumers’ interest in a seamless holiday shopping experience across all shopping channels – online, in-store and mobile – is growing, especially when it comes to order fulfillment.

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Jennifer Lynn

Jennifer Lynn

Jennifer is a business journalist and has over 15+ years of professional experience working in technology, financial, hospitality, real estate, healthcare, manufacturing, not for profit and retail sectors. Specializations in the field of analytics, management consulting serving global clients from medium & large scale organizations. She is a proficient and passionate business executive; manager utilizing analytics data to drive smart business decisions. Technology, Finance, Investments, Retail, Management, Consulting, Strategy. Have published on Forbes.com, Investing.com, and many others. Currently the Commercial Real Estate Contributor for Retail Solutions Advisors.