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RAPAPORT... ShopperTrak released its Christmas-season prediction today, positing that U.S. retailers will have to work especially hard to earn their share of the consumer wallet this year. The group, which analyzes shopper data, anticipates that sales of general merchandise, apparel and accessories, furniture and other products will increase by 2.4 percent year on year in the November and December. Retail sales rose 3 percent during Christmastime 2012.
However, consumers are expected to visit fewer stores and ShopperTrak estimated that total retail store traffic will decrease by 1.4 percent compared with the 2012 season, which reflected a 2.5 percent foot traffic increase from 2011.
The season's traditional consumer spending spree and store shopper traffic historically account for about 20 percent of annual retail activity, according to ShopperTrak. The group warned retailers that they have six fewer days this year to attract consumers between Black Friday, which falls on November 29, 2013, and Christmas.
“Although the economy continues to recover slowly, consumers remain cautious about spending and are not ready to splurge,” said ShopperTrak's founder, Bill Martin. “Even though online buying increases each year, brick-and-mortar sales remain retail’s largest profit opportunity. Retailers who deliver a seamless experience both in-store and at every customer touch-point have the chance to capitalize and grab their share of wallet when shoppers visit the stores.
“Nobody can afford to procrastinate,” said Martin. “Retailers must have their holiday marketing and operations ready to go when November begins, as consumers will be ready to take advantage of those deals.”
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