Thanksgiving is all about food, family and relaxing. But the day after the Thursday holiday, more commonly known as 'Black Friday,' sees a rush of consumers flocking to retail stores throughout the country to take advantage of discounts and deals. While recent research has found that last year's Black Friday significantly contributed to retail holiday sales, many merchants are now extending their day after Thanksgiving sales hours to accommodate more shoppers. This trend has some industry experts believing that Black Friday may soon become longer than just one day.

Thanksgiving Day could be included in Black Friday

It could be viewed as the death of Black Friday, or simply an extension of it, as more retailers are now opening their stores to consumers on Thanksgiving night, according to the U.S. National Retail Report 2012 Forecast by Terranomics. In 2011, Toys R Us and Walmart were among the businesses that opened their doors at 9 p.m. for shoppers the evening of Thanksgiving. Many others, including Old Navy, Ann Taylor, Abercrombie & Fitch and GameStop, waited until midnight to allow consumers to come in. Many companies are also extending their deals beyond the Friday after Thanksgiving for those customers who cannot get to stores right away. While many employees are not happy with these methods, retailers are determined to bring in shoppers to boost holiday sales.

Terranomics anticipates that this trend will continue to grow, as more merchants will open their doors at earlier hours and keep them open to accommodate customers eager to take advantage of discounts and begin their holiday shopping. Retailers are also looking for ways to beat out competition, and these strategies allow them to do just that.

Extended Black Friday could have significant impact

The extension of Black Friday hours and sales could have a significant impact on this year's holiday sales. The National Retail Federation (NRF) estimates that retailers will see a 4.1 increase from last year in consumer purchases over the coming months, both online and in stores. The total amount is anticipated to reach $586.1 billion.

"This is the most optimistic forecast NRF has released since the recession," stated NRF president and CEO Matthew Shay. "In spite of the uncertainties that exist in our economy and among consumers, we believe we'll see solid holiday sales growth this year. Variables including an upcoming presidential election, confusion surrounding the 'fiscal cliff' and concern relating to future economic growth could all combine to affect consumers' spending plans, but overall we are optimistic that retailers promotions will hit the right chord with holiday shoppers."

This entry was posted by Retail Pro on Wednesday, October 10th, 2012 at 3:05 am .

Some time ago, it may have seemed that the rise of smartphones and tablets meant the demise of in-store retail operations. However, this is certainly not the case, and many merchants are embracing the technology to stay competitive.

According to VentureBeat, mobile marketer InMarket believes that retailers can implement strategies that target consumers who use their devices both in stores and online. This includes creating advertisements that are personalized and that offer items that fit the needs and wants of mobile shoppers. InMarket's communications director told the source that as more customers are using their smartphones and tablets, retailers must be willing to provide for them through the channel or risk losing out to competition.

Mobile retail sales are expected to have a large impact on this year's holiday sales. A report by Citigroup anticipates that digital purchases will account for 20 percent of 2012's total retail sales in the coming months, as more consumers use their devices to buy gifts and other items. This represents approximately $10 billion total. Additionally, by 2016, Citigroup states that mobile purchases will reach $31 billion, according to a study by Forrester Research. 

This entry was posted by Retail Pro on Tuesday, October 9th, 2012 at 3:03 am .

Thanksgiving this year will be filled with the usual for Americans – turkey, dressing, cranberry sauce and family. However, one new aspect is expected to make its way into the traditional holiday. Recent research has found that many retailers will be sending out targeted marketing emails to consumers this year.

Research from Responsys has revealed that 80 percent of major retailers are going to send promotional emails to customers on Thanksgiving, reports Internet Retailer. This is a significant increase from last year's amount of 76 percent, as well as the 60 percent that used the method in 2010. One main reason this is being done, of course, it because of the day after Thanksgiving, which is now referred to as 'Black Friday,' is one of the biggest shopping days of the year. Retailers are hoping that these relevant emails will draw shoppers into their stores and on the websites to make holiday purchases.

So how can businesses ensure that their targeted emails are hitting the right mark? Forbes suggests that marketers developing the emails focus on creating content that can accessed on mobile devices, as consumers are increasingly using their smartphones and tablets for purchasing holiday gifts. Another strategy that could increase sales is free shipping. The source states that shoppers will be enticed by the money-saving offer.

This entry was posted by Retail Pro on Tuesday, October 9th, 2012 at 3:00 am .

The option to put items on layaway may have faded over the past few years. However, the purchasing method is not dead, as many retailers have announced they are planning on offering the service for customers this holiday shopping season. It seems as though shoppers are open to the idea, as recent research has revealed that a significant amount of American consumers are planning on taking advantage of layaway when buying gifts this year.

Consumers list many advantages for layaway

Perhaps its because of recent economic conditions, or maybe shoppers just want to keep a closer eye on their finances. Whatever the reason, some consumers will be using layaway options during the 2012 holiday season. A recent survey by CouponCabin found that 34 percent of American adults are somewhat likely to put items on layaway in the coming months. Nine percent of respondents stated they are more than likely going to use the options.

These customers see many benefits to putting items on layaway. More than half (54 percent) stated this option gives shoppers the chance to buy larger items that they are unable to pay for all at once. Maintaining a holiday shopping budget came in as the second best reason to use layaway, at 52 percent, and avoiding the use of credit cards garnered 46 percent of responses. Additionally, 43 percent said layaway options help people plan ahead for their holiday purchases, the study discovered.

"Layaway can be a smart option for holiday shoppers on a budget, as it forces shoppers to be disciplined about saving and reduces impulse purchases," said Jackie Warrick, president and chief savings officer at CouponCabin.com.

Layaway efforts increased among retailers

Perhaps in response to the significant demand and slow economic growth, many big-name retailers are bringing back their layaway options for shoppers this holiday season. According to The Street, Wal-Mart, Toys-R-Us, Kmart, Target and Sears are among the companies that are giving consumers the chance to use layaway. Many of these businesses discontinued their layaway methods over the past few years, but they have decided to offer them this year to bring in more cash-conscious customers.

To further accommodate consumers, some retailers, including T.J. Maxx, Best Buy and Wal-mart, are reducing the fees required for opening a layaway account. Other companies, such as Kmart, Sears and Toys-R-Us, are completely waiving their fees for customers, states the news source.

This entry was posted by Retail Pro on Monday, October 8th, 2012 at 1:58 am .

While smartphones, tablets and other mobile devices have made it more convenient for consumers in terms of shopping and purchasing items, there is still much to be said for visiting retail stores to browse, compare and buy merchandise. Many retailers have been turning their attention toward providing mobile solutions for customers, but focus has not been taken away from improving the in-store experience. In fact, the two methods are now being used together to offer better service and faster transactions. Companies are continuing to create and develop strategies that give store shoppers more satisfaction with their visits, which ultimately increases retention and loyalty.

Retailers integrating in-store and mobile shopping

Although it may seem that mobile shopping defeats the purpose of in-store purchasing and that the methods should be enemies, such is not the case. In fact, many retailers are now attempting to bridge the two forms. EMarketer cites research by the e-tailing group which found that using cross-channel approaches actually boosts revenue and retention. Consumers are increasingly using their phones to research information about merchants and locate their stores, so many companies are implementing aspects that allow customers to use their devices in the browsing and purchasing process.

The survey by the e-tailing group revealed that 65 percent of retailers are giving shoppers the option to buy online, but return items to the store if need be. With 53 percent of merchants, customers can purchase items on the internet, but then visit the physical location nearest them to pick up their goods.

The source states that as more customers complete their shopping on-the-go, retailers that integrate their in-store experiences with mobile options can see many advantages.

Retailers catering to mobile shoppers

EConsultancy writes that businesses that have already implemented solutions for smartphones and other devices in their stores have seen benefits from their efforts. Several retailers in the U.K. are now offering methods such as QR codes, WiFi and virtual kiosks, which has drawn in the technologically-savvy shoppers. This is being done as a result of the increasing number of British consumers who are using their devices when they visit brick-and-mortar locations.

Customers are using their phones to compare prices online of items they see in stores with other businesses. They are also researching product reviews to gain a better understanding of goods. If retailers take steps to streamline these processes, then they can only stand to benefit from their efforts, reports the source.

This entry was posted by Retail Pro on Friday, October 5th, 2012 at 5:40 am .

The economy is slowly but steadily improving, and this means that consumers are getting more confident about their financial conditions. Many shoppers are planning to hit retail stores and websites over the next few months to stock up on items and gifts. This is giving retailers and merchants hope for the season, and industry experts are anticipating that this year's sales totals will at least meet, if not surpass, the amounts for 2011.

Holiday spending will increase

According to a recent survey by PriceGrabber, consumers will be spending more on holiday purchases this year. More than half of respondents stated that they will spend just as much on purchases this year as they did in 2011. Twelve percent will spend more in 2012, up from the 7 percent who said the same last year.

There are many reasons why shoppers will be increasing their spending this holiday season. The study found that nearly half of consumers surveyed stated they are making more money this year, while 22 percent said it was their increasing confidence in the economy. Many consumers are also expecting retailers to offer better prices and deals this season, with 67 percent stating this as the number one cause of their increased spending. There are many features that retailers are offering that is contributing to the jump in purchases, including free shipping, discounts and clearance sales. Shopping has also started earlier this year, the research found.

"Our survey data found that shoppers are not only expecting to find great prices and bargains this holiday season, but 59 percent of consumers plan to start shopping even earlier this year to spread out the impact of purchases, compared to 53 percent in 2011," stated Rojeh Avanesian, PriceGrabber vice president of marketing and analytics. "Our data indicates that 17 percent of consumers plan to start their holiday shopping in September and 31 percent plan to begin in October this year."

2012 holiday trends

There are several trends that retailers need to be on the lookout for this holiday season. Independent Retailer reports that online shopping will be huge this year, and companies that do not implement strategies to meet the demands of consumers could lose out to competition. A study by Pitney Bowes revealed that the online shopping experience for consumers needs to be streamlined to avoid any instances of confusion or frustration. Additionally, the source states, shoppers will be looking to purchase items from retailers by using multiple channels. Merchants must be willing to provide these and remain consistent through each one. 

This entry was posted by Retail Pro on Thursday, October 4th, 2012 at 2:13 am .

As the economy continues to improve, consumers are slowly regaining confidence in conditions. For this reason, this year's holiday retail sales are expected to surpass last year's totals. However, recent research has found that shoppers will be taking to retail websites and other resources in larger numbers than ever to purchase items and gifts over the next few months.

According to Internet Retailer, a report from Deloitte LLP found that non-store holiday sales will increase by 15 to 17 percent from last year. Approximately three-quarters of the total will be from retail sites, and the remaining 25 percent will represent catalogs and television retailers. Internet sales will reach $54.47 billion for the 2012 holiday season, a significant increase from the $46.63 billion that was spent online last year.

"Non-store sales continue to outpace overall growth, but increasingly influence consumers' experience with the retail store, from trip planning, to in-store product research, and post-purchase reviews and sharing," says Alison Paul, vice chairman of Deloitte LLP.  "This holiday season, retailers' most lucrative customers may be the ones they engage across physical and virtual storefronts."

Overall holiday retail sales will see a 4.1 percent jump from last year, for a total of $586.1 billion, according to a report from the National Retail Federation.

This entry was posted by Retail Pro on Wednesday, October 3rd, 2012 at 1:39 am .

Although it is considered one of the shortest shopping seasons of the year, consumers turn out in droves to buy their Halloween costumes and associated supplies. This year, specialty retailers are expecting significant increases in spending for the season, as economic conditions continue to improve.

According to a survey by the National Retail Federation (NRF), approximately seven out of 10 Americans are planning on celebrating Halloween this year. This represents approximately 170 million people, or 71.5 percent of respondents. This is an increase from the 68.6 percent that partook in Halloween festivities last year. The study anticipates that spending will rise also, with the average cost of each person purchasing $79.82 for related items, up from $72.31 last year. The total amount of Halloween spending is expected to reach $8 billion this year, reports the NRF.

Many retailers specializing in Halloween-related items open up leading up to the season. The Rockford Register Star states that many of these merchants in the Rockford, Illinois, area are already seeing high sales from consumers. Two big name seasonal retailers, Spirit and Halloween City, are opening up 1,000 and 400 stores nationwide, respectively. Smaller merchants are also experiencing success from costume rentals and other associated supplies.

This entry was posted by Retail Pro on Tuesday, October 2nd, 2012 at 10:34 am .

From October 12-16, San Francisco, California, will be the site of Retail Pro's 2012 Global Conference. The annual event is open to Retail Pro Users, Vendors and Sponsors as well as Business and Alliance Partners.

Attendees will be able to learn about the trends and topics that are impacting the retail industry as well as have the opportunity to network with other professionals. This will help to establish and build valuable working relationships.

The last day of the conference, October 16, will be dedicated solely to Retail Pro Prism, the company's newest technology product that provides streamlined workflow capabilities for retailers and their operations. Attendees of the Retail Pro Prism Boot Camp will be able to learn about the architecture, fundamentals and application modules of the software system. Discussions and hands-on training will be offered by Retail Pro professionals, giving users the opportunity to develop effective skills and gain insightful knowledge about how the product works to help effectively manage retail operations.

At the end of the Retail Pro Prism Boot Camp, attendees will have the chance to earn their certification in the retail management software solution. This official certification is recognized by Retail Pro University and Retail Pro International, LLC. Registration for the Boot Camp and the 2012 Global Conference can be found at https://www.retailpro.com2012Conference/Registration.php.

This entry was posted by Retail Pro on Tuesday, October 2nd, 2012 at 10:32 am .

With the emergence of new forms of communication, such as mobile and email, consumers are now able to reach out to retailers concerning service issues. For this reason, it is important for companies to keep up with these changes and implement solutions that allow them to effectively provide satisfactory service experiences to customers. These practices can lead to increased retention and brand loyalty, which ultimately benefits retailers and their operations.

Nordstrom's always improving service efforts

One company that has decided to take its service methods to the next level is the department store Nordstrom, according to Shop.org. Speaking at last month's Shop.org Summit, Jamie Nordstrom, president of Nordstrom Direct, told attendees about his company's constant efforts to improve customer service and provide satisfactory consumer experiences. Nordstrom stated that providing excellent service helps businesses sell more, as shoppers significantly value great retail interactions.

Nordstrom also offered several suggestions that retailers can follow when it comes to their own service strategies. Many merchants now manage both in-store and online operations, so it is essential that excellent customer experiences be provided in both shopping mediums. For this reason, retailers must be prepared to offer streamlined service through all channels. Nordstrom also said that the importance of retail stores is not diminishing, even though mobile and social media are proving to be valuable selling methods. Properly trained staff can help to increase customer satisfaction in stores.

One of the key aspects, stated Nordstrom, is for retailers to be innovative in their customer service efforts. Some will work for certain merchants, and others will not. The vital thing is to find the ones that work best for consumers and operations.

Excellent customer service goes beyond a smile

While it's always better to deal with nice staff members who serve customers with a smile, oftentimes this will not be enough to provide a satisfactory service experience. B&T reports that customers are also looking for extensive product knowledge when they interact with retail employees.

"Training and teaching people to smile at the door and say hello when a customer first walks in is just not going to cut it anymore," Adele Reddington, senior consultant of employee engagement at Interbrand Sydney, told the source. "It is more about giving staff greater control and understanding around the brand itself and helping them embody the brand."

This entry was posted by Retail Pro on Monday, October 1st, 2012 at 10:41 am .