As the economy has continued to improve, conditions have been getting better for both American consumers and retailers. With the holiday season fast approaching, shoppers and businesses alike are gearing up for what is expected to be one of the strongest purchasing periods in recent years. Retailers are increasingly optimistic about their winter sales, as new research has revealed that businesses are anticipating sales to be the best since 2007.

Confidence, optimism increasing

As consumers steadily regain their confidence in the recovering economy, so too are retailers. Fox Business reports that, according to a recent study by BDO USA, merchants are expecting at least a 3.7 percent increase in same-store sales this holiday season, both through brick-and-mortar locations and websites. This is the highest level that the figure has reached in five years. Of the sectors that will fare the best during the coming weeks, consumer electronics and gift card sales are anticipated to be the leaders.

"While we haven't returned to pre-recession levels of optimism, retailers are gearing up for what looks to be a promising holiday season," said Doug Hart, partner in the retail and consumer product practice at BDO. "Still, consumers have more choices than ever, and retailers are looking to avoid showrooming by curating a mix of exclusive and top-selling products to get consumers in their door or on their site."

Retailers relying on several strategies

So just what exactly are retailers doing to gear up for the season and draw in consumers over the next few weeks? The San Francisco Chronicle reports that businesses across the country are preparing their stores and operations in the hopes of boosting holiday sales. Brick-and-mortar merchants are especially getting ready for the season, as they want to beat out their online counterparts. The source states that Target has made the decision to match the prices listed on Amazon.com as a way to bring shoppers into their stores. Other retailers, along with Target, are offering same-day shipping as well as faster checkout times for in-store consumers. However, it will not be until after the holiday shopping season has died down for both ecommerce and brick-and-mortar merchants to see how well they performed.

"This will be the first holiday shopping season where (stores) are making a more concerted effort to avoid bleeding sales to online retailers," says Ken Perkins, president of Retail Metrics, as quoted by the news source. "The question on everybody's mind is how are they going to fare?"

This entry was posted by Retail Pro on Friday, November 9th, 2012 at 4:06 am .

As ecommerce continues to grow, retailers are having to adapt to these changes as customers' expectations evolve. Recent research has revealed that for the upcoming holiday season, more customers are going to be purchasing items and gifts online, and for this reason, they will prefer retailers that provide multichannel options both for shopping and service issues. Additionally, if businesses fail to implement these methods into their existing operations, they run the chance of losing out to competitors, as patrons turn elsewhere to find what they are looking for.

Social media, live chat coming to the forefront

When it comes to buying products from retailers through the internet, customers are starting to prefer having other digital resources available to them as well. According to a recent survey by LivePerson Inc., customers are increasingly using social media networks to interact with merchants. Forty percent of respondents stated they will use sites like Facebook and Twitter throughout the holiday shopping season to reach out to businesses by tweeting or posting comments on pages.

Mobile devices are also becoming more common for browsing and purchasing items, and shoppers are using mobile applications and optimized websites to access retailers' online storefronts. Of the consumers who said they will use these tools for the holiday season, 50 percent stated it is important that merchants have these resources available for mobile-connected customers.

When it comes to digital components for holiday shopping, live chat options seem to be the most vital for customers, both online and by mobile devices, the survey revealed. Forty-five percent of consumers surveyed prefer live chat for dealing with service issues. The majority of patrons who have used live chat in the past (94 percent) said they will use it again to get the help they are looking for.

"In order to provide the most compelling online shopping experience possible, it's essential that businesses understand how consumers are interacting with brands online during the holiday shopping season," said Jeremy Sokolic, head of marketing at LivePerson. "By intelligently connecting with online visitors, at the right time and through their preferred channel, businesses can exceed consumer expectations this holiday season, enabling them to drive more conversions and greater customer loyalty as a result."

Adapting to multichannel operations

The survey's results help to highlight the importance that retailers offer these digital forms, not just for the holiday season, but for overall operations. Retail Week states that instead of merchants creating channels for their shoppers, businesses should listen to what their customers want. Additionally, constant improvements need to be made, as consumer expectations will change with technology.

This entry was posted by Retail Pro on Monday, November 5th, 2012 at 4:14 am .

While it is expected that millions of American consumers will hit retail stores over the next few months to purchase gifts for the holiday season, it seems as though ecommerce will also see its fair share of activity, as customers are increasingly using their computers and mobile devices to buy products. To capitalize on this trend, there are several strategies that merchants can follow to boost their winter sales.

Ecommerce trends for the holiday season

According to a recent study from PriceGrabber, one of the main reasons as to why consumers are increasing their online shopping is to avoid the long lines and wait times that can occur at brick-and-mortar locations during the holidays. Another aspect shoppers like about internet purchasing is the free shipping and other elements that are offered. The third reason is that buying items and gifts on the web can be done at anytime and is not limited to store hours.

Purchasing products from retailers is increasingly being done on mobile devices. Sixteen percent of customers surveyed stated they will be shopping on their phones, up from 13 percent who said the same last year. Many consumers also said they will be using their devices to look up prices, reviews and information about retailers, the report states.

"We anticipate that online and mobile shopping will continue to increase in popularity this holiday season because it allows consumers to easily compare products and read merchant reviews, as well as locate the best price on every product without having to visit each and every brick-and-mortar store," said Rojeh Avanesian, vice president of marketing and analytics of PriceGrabber.com. "Online and mobile shopping allows consumers the ability to monitor prices and to shop around the clock. Today's busy and money-conscious consumer is looking at these channels as go-to options for finding the best deals during a frenetic period like the winter holiday season."

How retailers can boost holiday ecommerce sales

For retailers that are offering online and mobile shopping options for customers, there are several methods that can help to boost holiday sales this year. Independent Retailer writes that merchants need to make sure their options such as free shipping and return policies are stated clearly for consumers. Targeted email campaigns can also be effective, as this gives businesses the chance to showcase their holiday deals and discounts. Maintaining easy-to-use and attractive websites is another aspect that can increase retail sales as well as customer retention, the source states.

This entry was posted by Retail Pro on Monday, November 5th, 2012 at 4:14 am .

As American consumers prepare to hit retail stores in droves over the coming months, businesses are boosting their holiday efforts by hiring seasonal employees to help with the shopping rush. Recent research has found that more temporary workers are being brought on this year than in 2011, and retailers state that many of these positions could turn into full-time jobs.

According to a study by HireVue and Aon Hewitt, 48 percent of merchants surveyed stated they will be hiring more seasonal employees in the coming weeks than they did last year. In addition, 80 percent of respondents said they think one of the best ways to find permanent workers is from seasonal staff members, and more than one-quarter of retailers will consider offering full-time jobs to at least half of their temp employees this year.

"As the American economy improves, retailers anticipate a busier holiday season than last year, and hiring qualified talent to address this expected demand will be just one of many competing priorities for them," said Melissa Mounce, senior director and global operations leader at Aon Hewitt.

Several big cities are leading the retail holiday hiring increases, according to research by CareerBuilder. These include Los Angeles, New York, Atlanta, Philadelphia and Chicago.

This entry was posted by Retail Pro on Thursday, November 1st, 2012 at 9:14 am .

While the Canadian economy seems to be improving, thanks in large part to higher retail sales throughout the country, it appears as though merchants are losing significant amounts of revenue per day and annually due to shrinkage. This is the result of customers or employees stealing merchandise and going undetected, as well as inventory errors and damaged products. Canadian retailers are doing what they can to stop the losses through alarms, cameras and other security measures.

Theft, errors resulting in large retail losses

According to recent research by PricewaterhouseCoopers and the Retail Council of Canada, retailers throughout the nation are losing approximately $10.8 million each day due to shrinkage. This equates to about $4 billion each year, as the average shrink rate for respondents was calculated at 1.04 percent of net sales. Since 2008, the results of the Canadian Retail Security Survey have held steady near this rate.

However, merchants are doing their best to cut down on theft that contributes to the shrinkage. The study found that 65 percent of companies currently use video recording systems, tip phone lines and observation mirrors to attempt to catch would-be thieves making off with merchandise. On the other hand, only a small amount (35 percent) of retailers utilize alarm systems to detect theft.

Additionally, Radio Frequency Identification (RFID) technology has been made available to Canadian businesses to reduce the shrinkage brought on by accounting and inventory errors. However, the survey revealed that none of the respondents are taking advantage of it. The high cost of implementation is the number one reason as to why RFID solutions have not been widely adopted.

As for the most common forms of merchandise that are stolen from Canadian retailers, the study discovered that alcohol, cosmetics and fragrances and ladies apparel are the items that are taken the most.

Retail sales up throughout Canada

Despite the relatively high shrinkage rate, Canadian retail sales increased for the month of August, climbing 0.3 percent from the previous month to account for $39.1 billion in total purchases. Five out of the 11 subsectors reported gains for August, including booksellers, sporting goods and hobby stores. Of the 10 Canadian provinces, six saw increases in retail sales, with Ontario leading the way, followed by Nova Scotia and Saskatchewan.

This entry was posted by Retail Pro on Wednesday, October 31st, 2012 at 9:31 am .

The United Kingdom is hoping to bounce back from the recession as economic conditions continue to improve throughout the country. It seems as though things will keep getting better as retail sales over the past few months have shown solid increases, leading many economists to believe that the U.K. might finally be pulling away from the negative impact of the downturn. The recent positive numbers are giving both retailers and consumers optimism for the near future, and industry experts hope that the trend will continue.

October posts strong year-over-year retail sales

Retailers across the country reported positive sales gains for the month of October, according to latest Distributive Sales Survey by the Confederation of British Industry (CBI). Forty-seven percent of respondents stated that their sales are up since a year ago, while only 17 percent reported losses since October 2011. Additionally, more than one-quarter of retailers believe that November will also see stronger sales than the same time last year.

Many sectors within the retail industry experienced gains over the past year, with clothing seeing one of the highest increases from October 2011, with a 57 percent rise. Footwear retailers also reported solid sales for the seventh consecutive month, as their numbers increased by 39 percent year-over-year, the survey revealed.

"It is great news that last month's sales growth has continued into October, at a much faster pace than expected, and that this momentum is expected to continue next month too," stated CBI head of economic analysis Anna Leach. "Falling inflation has somewhat eased pressures on family budgets, so that households are a little more willing to spend. But there's still a risk that ongoing uncertainty over the global economic outlook could dent consumer confidence, hitting prospects for the retail sector, while the scope for inflation to fall further is limited."

September retail sales higher than expected

Perhaps one of the largest contributors to the positive numbers in October came from the previous month, as U.K retail sales in September were better-than expected. Bloomberg Businessweek writes that according to a report from the Office of National Statistics, sales increased by 0.6 percent throughout the month from August. This was a significant rise from the 0.4 percent gain that was forecasted by economists. Industry experts state that higher demand for winter clothing as well as back-to-school sales were large factors to the growth, as clothing purchases increased by 2.1 percent from the previous month. 

This entry was posted by Retail Pro on Wednesday, October 31st, 2012 at 9:31 am .

Besides managing employees, inventory and other daily store operations, retailers also are tasked with meeting the wants and needs of their customers. Sometimes, this can be a simple process, as most consumers will let businesses know what they expect and what they are looking for. On the other hand, it can be difficult if complaints have no basis and are out of the control of merchants. Whatever the reason, there are ways that retailers can take shopper criticisms and use them to improve operational methods.

Most common customer complaints

While retailers have seen their share of complaints, there are still the ones that are the most common among shoppers. A report from NSW Fair Trading pinpointed some of the troubles that consumers face most when purchasing from both brick-and-mortar retailers and ecommerce merchants, according to Inside Retailing. Returning items was the number one complaint among patrons in 2011 and 2012, as some were not aware of the terms and conditions or lack thereof that businesses have regarding refunds and exchanges.

The use of discount vouchers and coupons were another top difficulty that customers dealt with and brought to the attention of retailers. Some consumers were having problems with using expired deals, and others complained that some merchants did not honor the discounts they were offering.

The source reports that when it comes to the various retail sectors, consumer appliances saw the highest amount of complaints, the research revealed. Furniture, bedding, clothing and jewelry also ranked high on the list.

What customers expect

Many complaints stem from consumer expectations not being met. In a separate article, Inside Retailing states that retailers should strive to meet these needs and wants, as it is the most effective way to keep shoppers satisfied and turn them into loyal customers. Despite the source of trouble or criticism, merchants should assess what they are currently offering and determine whether changes need to be made.

One complaint that businesses may hear is that they do not offer any or enough mobile options for their patrons. This can be easily fixed by adopting mobile solutions such as applications and optimized websites for smartphones and tablets to give consumers what they are looking for in a mobile experience.

This entry was posted by Retail Pro on Wednesday, October 31st, 2012 at 9:31 am .

Retailers know that meeting the expectations and wants of customers is one of the top priorities for their operations. They also know that these needs change frequently, especially when new purchasing processes and channels are implemented. Such is the case with ecommerce, as buying items and services on the internet is giving consumers more convenience, easier comparison shopping capabilities and other benefits. For this reason, there are several trends pertaining to online purchases that retailers need to be aware about. Customer expectations can be easily met if merchants take the steps to provide consumers with what they are looking for.

Customer have ecommerce requirements

As online shopping becomes increasingly popular, consumers are beginning to have a set of expectations – and sometimes requirements – of what they want from internet retailers. This especially applies to returning items. Brick-and-mortar retailers have physical locations for returning and exchanging products, whereas ecommerce websites do not. According to a recent study by Redshift Research and Fits.me, approximately 60 percent of customers surveyed stated they would not buy from a web merchant if the business did not offer free returns, reports Internet Retailing.

When it comes to how shoppers deal with returns for clothing items bought on the internet, 41 percent said they purchase several sizes of the same article and then return the ones that do not fit, the research discovered.

"[Consumers] are learning that the 'free returns' offered by retailers works to their advantage," said Fits.me co-founder and CEO Heikki Haldre. "However, returns cost retailers enormous sums of money; not just the transportation of it, but the re-warehousing of the garment and, often, its subsequent discounting for resale."

Meeting other online expectations

Despite the losses in revenue for online returns, retailers need to be willing to accommodate their internet shoppers or risk losing out to competition. There are also several other trends that merchants need to be aware of when it comes to online retail. Financial News writes that customers are increasingly expecting mobile applications and optimized websites for easy browsing on their smartphones and tablets. This can increase sales for businesses and lead to greater consumer satisfaction.

Additionally, location-based services are another aspect that retailers should keep their eyes on. Shoppers using their mobile devices or computers can find deals and discounts offered by merchants depending on where they are located, states the source. This can bring in new patrons, keep existing customers coming back and result in big gains for retailers.

This entry was posted by Retail Pro on Wednesday, October 31st, 2012 at 9:31 am .

Online retailers are becoming increasingly common among consumers in the United Kingdom, as shoppers turn to the internet for convenience and easier product comparison. The trend is expected to become more widespread in the future, as more customers will be purchasing items and services via the web.

According to recent research by the Economist Intelligence Unit, approximately one-third of the retail sales in the U.K. will happen online by 2022, reports Internet Retailing. Currently, about 10 percent of purchases from retailers take place through the internet. As shoppers move to web buying, retailers will attempt to accommodate these consumers by integrating digital resources into their operations, including the use of point-of-sale kiosks, smartphone applications and other forms of new media.

"The opportunities for retail over the next decade and beyond are enormous," said report author Jon Copestake. "But where the future markets will reside and the way in which we will buy goods will change dramatically."

Internet Retailer states that recent online retail sales in the U.K. have seen significant growth, according to a study by e-retail trade group IMRG. In September, British consumers spent £6.4 billion ($10.25 billion) through the web. This represents a year-over-year increase of 16 percent.

This entry was posted by Retail Pro on Wednesday, October 31st, 2012 at 4:19 am .

Despite the damage and trauma left behind by Hurricane Sandy, one lesson that was learned leading up to and throughout the massive storm is the fact that consumers still heavily rely on brick-and-mortar retail stores, especially in emergency or disaster situations.

NBC News reports that residents on the East Coast rushed to retail stores in preparation for the hurricane to stock up on necessary supplies such as food, batteries and clothing. While online retailers provide convenience for shoppers, brick-and-mortar stores give customers the quick access they are looking for, whether it be for storm supplies or just a quick purchase. Many retailers have been struggling to compete with their ecommerce counterparts, but this one aspect is something physical storefronts can offer.

"Everyone's saying that brick-and-mortar retailing is dead," retail industry analyst Brian Sozzi told the source. "All you need to do is go to Amazon right now and type in 'hurricane preparation' and nothing comes up."

According to Retail Customer Experience, these brick-and-mortar retailers can sometimes be viewed as heroes in times of crisis, as consumers are eager to buy items needed for emergencies or in unexpected situations.

This entry was posted by Retail Pro on Wednesday, October 31st, 2012 at 4:19 am .