Earlier this month, we asked you, our readers and @BDOConsumer Twitter followers, to share your expectations for consumer spending this Valentine’s Day.
Readers seem to be divided in their beliefs about spending this Valentine’s Day, with 38 percent anticipating consumers will spend more on their loved ones than they did last year and 34 percent expect the opposite. For those of you optimists, the National Retail Federation’s Valentine’s Day Consumer Spending Survey reveals that the majority of the public is feeling the love, too. According to the survey, total spending is expected to reach $19.7 billion this year, a survey high. Continue reading
Retailers reached nearly $3 billion in sales this past Cyber Monday, according to Adobe systems, and demand outpaced expectations for some retailers. Even in our own tenth annual Retail Compass Survey of CMOs, the number of retailers who predicted Cyber Monday sales would increase was 32 percent in 2015, up from 24 percent in 2014. Given this recent optimism, and a growing number of consumers’ overall preference to press checkout instead of stand in one, retailers should re-examine their sales strategies to ensure they align with where their audiences are now and into the future.
At this time last year, the National Retail Federation said that Valentine’s Day retail spending was expected to reach a record $18.9 billion—optimism that was largely a result of the improving economy overall. As we near Valentine’s Day this year, we would love to hear from you about your expectations. Take our quick reader survey below to let us know, and we’ll share the results in a follow-up post. Continue reading
2015 was a year of mixed blessings for retailers. Though overall sales consistently exceeded those of 2014, month-to-month growth remained minimal and volatile. A confluence of factors led industry observers to believe consumer confidence was on the up-and-up, but consumer confidence actually declined over the course of the year. Continue reading
When providing our retail IPO outlook for 2015 at the beginning of this year, we asked: Will consumer businesses face a potential Alibaba hangover in 2015? With the absence of a “blockbuster” IPO, the consumer business market did indeed experience something of an IPO hangover. Amid global stock market volatility, investors were a bit skittish overall last year, and U.S. IPOs reflected that sentiment. According to data from Renaissance Capital, there were a total of 170 IPOs in 2015, down 28 percent from 2014. Health care was the clear standout industry, with 78 IPOs, followed by technology and financial services. Continue reading
As we head into the New Year, consumers are planning their New Year’s resolutions, from paying off credit cards to joining the gym and cutting carbs. But they’re not the only ones who should be thinking about the positive changes they can make in the coming year. Retailers reflecting on the trends and events that defined the 2015 consumer business landscape and determining their goals and priorities for the year ahead may want to consider these New Year’s resolutions: Continue reading
As part of my ongoing 2015 NACD Global Board Leaders’ Summit blog series, today I will touch on one of the more significant lessons I learned during my time at the conference: The importance of retailers being authentic to build their bottom line and relationships with the right—not all— customers.
With Cyber Monday sales now outpacing those of Black Friday, it is clear that retailers need to ensure their presence stretches across bricks and clicks. And they are, according to the latest results from our 10th Annual Retail Compass Survey of CMOs, a survey of 100 CMOs at leading retailers throughout the country.