While more than half of consumers said their holiday spending was effected by the economy in 2011, this year didn’t seem like it is going to be any better for retailers. However, studies show that the hobbling economy might not cut as deep as experts might have feared. To be ready to capitalize on the business that comes through the door this holiday season, here are five trends retail trends you should know:
- Consumers are Shopping Smarter: While consumers won’t be held back 100% by their financial outlook this year, they are comparing prices to make sure they get the best deal and are expecting to see good offers.
- Holidays Come Earlier Each Year: The bulk of business might be the end of November/beginning of December, but shoppers start before Halloween. Don’t wait to sell your holiday merchandise.
- Consumers Will Depend on Mobile: Consumers use their smartphones and tablets to learn about products, find store locations, and more. The phone is more of a utility device for searching stores and products, while consumers use tablets more for buying products and services.
- Thanksgiving is becoming a Premier Shopping Day: Shopping pre- and post-Thanksgiving is almost as popular as watching football during that day.
- E-Commerce Is Still Growing: Thirty-six percent of consumers plan to shop online this session, the highest number in five years.