Three Cheers for Main Street!!
- Holiday sales poised to be best since the Great Recession
- Brick-and-mortar stores will continue to flourish
- The demand for “cherish” retail will be stronger than ever
- Half of millennials are expected to shop brick-and-mortar this season
Multiple industry leaders have shared some very encouraging news in regard to holiday shopping this year. Vaughan Rowsell, founder at Vend, shared that there is “no doubt that retail is becoming more vibrant and diverse. More independent stores not fewer. More artisan products. More carefully curated sets of products for you to fall in love with and cherish.”
In 2019, the act of buying commodities (i.e. buying things because we HAVE to) will become less of a chore. Players like Amazon and subscription businesses will make this part of retail easier through offerings like auto-renewals, one-tap purchases, and same-day delivery. In other words, the “chore” or routine component of shopping will become more streamlined.
However, the experiential side of retail — the part that involves discovering great products and socializing with others — won’t be going away. People will still make their way to physical stores, not because they want to “buy stuff,” but because they want to get experiences that they won’t find anywhere else.
Retail Dive has also shared that they predict that holiday sales will be the best since the Great Recession. People are still looking for the chance to touch and feel products and share the shopping experience with friends.
According to recent surveys, Yahoo Finance News just reported that, “among millennials, 48% reported shopping in-store at least once a week, more than any other generation,” so definitely keep this generation in mind when selecting products. “It’s the human element, that connection you don’t get from digital experiences,” Franson said about why in-store shopping is still relevant. “Experience and the need for instant gratification are the drivers here.” Build your marketing efforts around the experience, and watch your sales and foot traffic continue to grow!