The Canadian economy has been slowly recovering from the recent recession and many businesses are getting back on their feet after suffering financial blows which resulted in employee reductions and severe cost cutting. However, the nation's retailers have been helping conditions get back on track, as a recent study highlighted the importance of these merchants for Canada's productivity.

The Ottawa Citizen reports that according to a report by Deloitte, productivity throughout the country grew an average of 0.8 percent between 2000 and 2010. The main contributor to this increase was the retail sector, as Deloitte revealed that these businesses increased their productivity by 3.4 percent between 2000 and 2008. Authors of the study state that with a lack of government protection and the risk of failing at their ventures, Canadian retailers are required to develop innovative products and work harder to beat out the competition. These are some of the elements Deloitte believes led to the boost in the sector's productivity, the news source reports.

Unfortunately, retail sales throughout Canada increased only slightly for September, which are the latest results available from Statistics Canada. Bloomberg Businessweek writes that economists had predicted higher sales gains than the 0.1 percent growth that took place throughout the month. 

This entry was posted by Retail Pro on Wednesday, December 5th, 2012 at 4:19 am .

Retailers constantly strive to provide great experiences for customers who visit their brick-and-mortar locations. With the strong emergence of internet shopping, these satisfactory experiences are becoming even more vital for merchants with physical storefronts. Recent research has revealed that consumers are highly likely to stop frequenting businesses that offer poor experiences, which could lead to sharp decreases in retention and loyalty for retailers. To prevent this, there are several strategies that companies can use to effectively bring shoppers into their stores.

Long lines, ineffective service frustrate customers

According to a recent study by Verint, which analyzed the responses of more than 7,000 consumers, less than half (49 percent) of customers were satisfied with the experiences they received from retailers. Retail Times reports that just over a quarter of shoppers (26 percent) are indifferent to these types of experiences, with the rest of respondents stating they get angry when faced with poor customer service, long wait times and rude associates.

The research also found merchants are failing to effectively gather feedback from their customers through the multiple channels offered, including social media, web chat and phone. By analyzing the opinions of shoppers, Verint stated that businesses could significantly improve their consumer experiences.

"If they are not doing so already, organizations must invest in listening to the voices of their customers, in particular the new, social-savvy," said David Parcell, managing director at Verint. "They also must face up to the challenge of unlocking the feedback from those that aren't talking or remain indifferent about the service received, as well as the invisible. Until then, it will remain challenging for brands to distinguish themselves."

Retailers faced with competition from ecommerce

Perhaps one of the best benefits that are offered by brick-and-mortar retailers when it comes to customer experiences are the face-to-face interactions. However, this method is not always enough when it comes to providing great consumer service. Lippincott, a brand design and strategy firm, gives some suggestions for retailers looking to improve their experiences. One element that merchants can offer is mobile apps, which makes shopping easier for customers through faster payments and comparison options. Additionally, brand experiences need to unique, which helps companies stand out among competitors. This can be accomplished through flash sales, tailored events and other aspects that fit the needs of consumers, writes the source.

This entry was posted by Retail Pro on Tuesday, December 4th, 2012 at 3:41 am .

While this year's Cyber Monday was the biggest internet shopping day ever, American consumers also went online the following Tuesday and Wednesday in large numbers, with more than $1 billion being spent on each of those days as well. These findings are highlighting the growing trend of both early holiday shopping and ecommerce, as customers are preferring to get a jump start on purchasing items and gifts for loved ones through the internet. Web retailers can take advantage of this buying behavior by improving their online storefronts and offering more options for internet-connected shoppers.

Three straight days of billion dollar spending

According to a recently released study by comScore, Cyber Monday brought in approximately $1.46 billion for online merchants. However, the next two days also saw purchasing amounts of over $1 billion, as consumers went online Tuesday and Wednesday to spend $1.26 billion and $1.11 billion, respectively. The research stated that Cyber Monday and Tuesday were the heaviest ecommerce days in history, as Tuesday's amount surpassed the total that was spent online on Cyber Monday of last year.

However, comScore found that after these three consecutive days of $1 billion spending, consumers cooled their heels when it came to online shopping. On the other hand, these customers are expected to continue to hit retail stores and websites over the next few weeks to stock up on gifts and products.

ComScore's study revealed that one of the largest drivers for these large internet shopping days was free shipping offered by merchants. The research found that consumers purchased more from retailers that offered this aspect, compared to businesses that did not.

"Though retailers must often sacrifice margins when they provide free shipping, they benefit because consumers tend to spend significantly more on those transactions," stated comScore chairman Gian Fulgoni. "Consumers may either be responding to the minimum spending thresholds needed in order to receive free shipping, or figure that as long as they know they're receiving free shipping it might be worth adding another item or two to their shopping basket."

Black Friday brings in large amount for retailers

The official start of the holiday shopping season was on Black Friday, and companies across the country saw significant sales throughout the entire weekend, reports Fox Business. Shoppers still kept an eye on their budgets as they hit retail stores, as a Reuters/Ipsos poll revealed that 52 percent of consumers stayed within their price ranges. Many took advantage of the various deals and discounts being offered, as 33 percent stated they found better offers this year than during last year's holiday shopping season. 

This entry was posted by Retail Pro on Monday, December 3rd, 2012 at 10:38 am .

Although they certainly turned a few heads with their announcements, the retailers that made the decision to open their doors on Thanksgiving night to extend hours for consumers actually experienced many benefits from the move. These businesses saw boosts in revenue at their brick-and-mortar locations, slightly beating their competitors that waited longer to open.

Chain Store Age reports that a recent study by Moody's revealed that so far, holiday sales are on par with the credit rating firm's expectations of 4 percent retail sales growth for the season. The research noticed, however, that merchants that opened on Thanksgiving night saw more sales volumes than those that welcomed customers on Friday.

"Retailers that opened early seemed to get a jump on those that delayed their openings until early Black Friday morning," said Charlie O'Shea, senior analyst at Moody's. "We believe the early opening trend is accelerating. Consumers seem to like the option of segueing right from Thanksgiving dinner to shopping and buying."

Some of the retailers that opened on Thanksgiving night included Wal-Mart and Sears, with both companies beginning their Black Friday sales at 8 p.m., according to the Chicago Tribune.

This entry was posted by Retail Pro on Monday, December 3rd, 2012 at 4:24 am .

Many Americans go all out when it comes to the holidays through gift buying and decorating. Retailers that sell holiday decor items could see a boost in operations over the next few weeks, as a recent study has pointed out that many shoppers are stocking up on products to deck their halls this season.

According to consumer market research firm NPD Group, a significant amount of Americans are planning on hosting holiday-themed parties in their homes this year, reports Retailing Today. Sixty-three percent of survey respondents stated they are going to have people over for get-togethers to celebrate these season. This means that retailers that offer decor items could see a boost in sales.

"It's holiday time again, and consumers are ritualistically preparing their homes to entertain this holiday season," said Debra Mednick, NPD Group executive director. "Products that furnish seasonal touches and sets that satisfy their need for value are on the menu this year."

Another study by Unity Marketing states that the "prime season" for decorations retailers is the holidays. These themed decor items are expected to account for more than 60 percent of the $19 billion that is generated from retail holiday decorations. 

This entry was posted by Retail Pro on Monday, December 3rd, 2012 at 4:23 am .

Amidst all of the shopping frenzy that happened on Black Friday, Cyber Monday and the days in between, national retail sales only rose slightly during November. However, many merchants are still optimistic, as consumer confidence has risen to record high levels, which retailers are hoping will lead to stronger sales over the next month.

According to the Los Angeles Times, a recently released report by Thomson Reuters, which analyzed the November sales amounts of 17 large retailers, found that retail sales only increased by 1.7 percent from the same time a year ago. This was a disappointment after analysts had predicted a 3.3 percent rise. The Thomson Reuters study stated that Hurricane Sandy had a significant impact on these totals. However, conditions should improve next month as the holiday shopping season continues.

This is certainly what retailers throughout the country are hoping for. High levels in consumer optimism might be what is needed to give the economy the solid holiday purchasing season it needs. Businessweek reports that according to the recent Conference Board index, consumer confidence is at 73.7, the highest it has been in more than four years.

This entry was posted by Retail Pro on Friday, November 30th, 2012 at 10:51 am .

Mobile devices like smartphones and tablets are becoming increasingly prevalent in today's world, as consumers are using them to complete many daily tasks. Many people are taking to their devices to purchase items and services from businesses, which has caused many retailers to begin focusing their attention on the technology. However, merchant websites that are viewed on computers are not the same as ones seen on smartphones and tablets. This means that businesses need to turn their attention to developing mobile-optimized sites as well as attractive designs for connected consumers.

Mobile sites have extra features

Besides creating sites that are able to be viewed effectively on mobile devices, retailers are also offering various features and aspects on these platforms that cannot be accessed by sites designed for computers. This trend was the focus of a seminar at the Internet Retailer Mobile Marketing and Commmerce Forum in San Diego. At the event, several examples of these additional features were showcases, such as the one provided by Walgreens Pharmacy. This element allows consumers to scan their prescription bottles using their smartphone and tablet cameras, and the information is then used to refill the needed medications.

Online retail giant eBay has created a special mobile Red Laser application for Best Buy, which gives shoppers the ability to see discounts and deals being offered by the electronics superstores' retail locations they visit. Another example is Wine.com's iPad app, giving visitors four wheels that can be spun to find which wines they are looking for, as well as an interactive map that is used to search for where certain wineries are located.

"Get rid of the PC paradigm," said Forrester Research analyst Julie Ask, when giving a presentation on the focus of mobile sites. "You can't just shrink and squeeze your web sites for mobile, you've got do things differently. Mobile first means designing for mobile from the ground up."

Mobile retail gaining ground

To gain a better understanding of how important mobile is within the retail industry, businesses only need to look at this year's Black Friday shopping weekend. Bloomberg reports that while not all numbers are yet available when it comes to the totals spent through mobile devices, eBay's amounts were significant. The company saw its biggest mobile shopping day on Sunday, when purchases from devices more than doubled the ones from last year.

This entry was posted by Retail Pro on Friday, November 30th, 2012 at 10:47 am .

The recent numbers released regarding Black Friday and Cyber Monday highlight the significance of the official start of the holiday shopping season. Millions of consumers hit retail stores and websites to purchase products and items they plan to give out to loved ones in the coming weeks. However, there were also a large amount of Americans who decided not to participate in the rush. Recent research has revealed what consumers were discussing on social media in terms of Black Friday and Cyber Monday, and how they felt about the shopping days.

Mix of impatience and excitement

Chain Store Age reports that a study by SAP analyzed the mentions of Black Friday and Cyber Monday throughout various social media channels to determine what Americans were really thinking of the two events. The results were interesting, as they contained a mix of consumers who actually shopped on the days and those that decided to avoid them altogether.

According to the research, when it came to Black Friday, there were equal sentiments of impatience/tiredness and excitement pertaining to the official start of the holiday shopping season. Other emotions expressed included eagerness, fear and anger. For Cyber Monday, consumers' feelings were a bit more optimistic, but the ecommerce day only received 30 percent of total social media mentions compared to Black Friday's 70 percent. Americans were mostly excited about Cyber Monday, with some happiness, concern and boredom thrown into the mix.

As for where shoppers were planning to head to purchase products on these days, SAP's study found that for Black Friday, big-box stores were at the top of the list. This was followed by electronics retailers and department stores. Cyber Monday, of course, was a huge day for online merchants, but electronics and apparel stores also ranked high among shoppers.

How big were Black Friday and Cyber Monday?

Many of these sentiments and behaviors toward Black Friday and Cyber Monday were exhibited throughout the weekend. Research from the National Retail Federation revealed that on Black Friday, more than 89 million consumers flooded retail stores and websites to take advantage of the discounts and deals being offered. Cyber Monday turned out to be the biggest shopping day in history, as approximately $1.46 billion was spent throughout the day, according to a study by comScore.

This entry was posted by Retail Pro on Friday, November 30th, 2012 at 10:47 am .

Although much attention lately has been put on the emergence of online retail, there are still many businesses that are aiming to draw in customers to their brick-and-mortar locations. A few ways that retailers can do this is to spruce up their storefronts by designing attractive window displays and making sure their sales floors are clean, organized and easy to navigate. Unfortunately, there are some merchants that are failing to do this, and many have seen sharp decreases in the number of shoppers coming in their doors. To prevent this, companies need to put more focus on frequently updating their storefronts and incorporate elements that are attractive to consumers.

It's all about cleaning up

A clean appearance is extremely vital in the business world. Just ask any job applicant who has ever been on an interview. The same is true when it comes to retailers, as their storefronts act as the faces they present to consumers. Dirty, unattractive and outdated elements within brick-and-mortar locations can easily turn customers off from purchasing items. There are many methods that companies can follow to ensure their stores are enticing to shoppers, according to Independent Retailer.

The first aspect that businesses need to focus on is cleaning. This includes making sure there is no trash littering sales floors or other areas, as well as the sidewalks and other platforms right outside of the store's doors. The source suggests that retailers quickly replace broken or outdated signs, both inside and outside. Lighting plays an important role for brick-and-mortar locations, and companies should ensure they have adequate elements that show off their merchandise. This can help to draw in consumers who are passing by.

Expanding windows is another strategy that can drive up business, states the news source. By having larger space toward the front of stores, retailers have more room to advertise their ongoing discounts and show off their products.

Physical locations not decreasing in importance

While many shoppers these days are hitting the internet to buy retail goods, it doesn't seem as though brick-and-mortar locations are decreasing in popularity. The recent Black Friday weekend is a good example of this, as research from ShopperTrak revealed that there were more than 594 million store visits between Thanksgiving Thursday, the day that retailers opened their doors, and Sunday, when Black Friday deals officially ended.

This entry was posted by Retail Pro on Friday, November 30th, 2012 at 10:47 am .

The levels of consumer spending fluctuate frequently throughout the year, as does their confidence. Retailers are able to look at this data to determine what to expect for their operations in the coming months. Recent research has revealed that while spending took a dip, confidence levels have reached a four-year high.

Bloomberg reports that according to the latest data from the U.S. Commerce Department, consumer purchases fell by 0.2 percent for the month of October, which economists believe was largely impacted by Hurricane Sandy. The decrease came after a 0.8 percent gain in spending for September. The drop is also being attributed to the uncertainty caused by the looming fiscal cliff, as Washington lawmakers continue their talks, the news source states.

On the other hand, American consumers are increasingly optimistic about both the nation's economy and their own financial conditions. According to the Conference Board, the level of confidence nationwide rose to its highest levels in four years during November, coming to 73.7. This is a slight increase from October's figure of 73.1. Businessweek reports. Economists state that this positive number means that spending will increase, further boosting recovery.

This entry was posted by Retail Pro on Friday, November 30th, 2012 at 10:46 am .