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Retailers Get Early Start on Holiday Promotions
Trends in store for retailers and shoppers this shortened holiday retail season include an earlier start to holiday promotions, new collaborations to shorten delivery windows and pare their cost, a proliferation of pop-up stores, and the growing popularity of resale goods as gifts, CBRE says in a new report.
“We’re poised for a healthy holiday retail season; the U.S. economy remains solid, the job market is strong and retailers appear prepared,” said Meghann Martindale, CBRE global head of retail research. “Shoppers are benefiting as retailers strive to serve them where, when and how they want. Advancements in delivery, pop-up retail and resale will be on full display this season.”
CBRE’s report outlines four trends shaping the holiday season:
• With only 26 shopping days between Thanksgiving and Christmas, this holiday season is the shortest since 2013. That led many stores to begin their holiday promotions earlier than usual, including one major discount retailer promoting deals in several categories on Oct. 25.
• Retail centers and retailers alike have honed their strategies of using multiple pop-up stores to generate customer traffic, introduce new merchandise and test new concepts. Some are doing so for the first time.
• Retailers are pursuing multiple strategies to both provide same- or next-day delivery, and do so at a manageable cost. Many of their solutions entail enticing the customer to pick up their order at a store or third-party location.
• Resale shops and websites have made inroads as gift-buying destinations, even for luxury items. An Accenture survey found that 48% of consumers would buy pre-owned apparel and accessories as gifts, while 56% would accept pre-owned merchandise as gifts this season.
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- ◦Economy
