Buoyed by the promise of new stimulus spending and the release of pent-up demand, retail posted impressive sales growth of 9.2% in January, excluding auto, gasoline, travel and lodging, according to the latest figures from MasterCard SpendingPulse. Not surprisingly, ecommerce continued to skyrocket, gaining 62% vs. January 2019.
The coronavirus outbreak is continuing to wreak havoc on retail, with the impact going beyond store shutdowns to online business being shuttered. Companies that closed their ecommerce operations in recent days include fashion brands Reformation, Marysia and The Frankie Shop, and retailers TJ Maxx, Marshalls and HomeGoods.
A listing of some recently announced expansions, additions and closures in direct-to-consumer distribution and fulfillment centers.
A listing of some recently announced expansions, additions and closures in direct-to-consumer distribution and fulfillment centers.
Last weekend as I was shopping at HomeGoods, I came across a few people at the checkout who were all saying the same thing: It seems like the holiday shopping season is starting earlier and earlier each year.
I consider myself the unusual millennial. Last week, I read the article, “Millennials’ Behavior Is Good, Bad and Ugly for Retail” by Steve Wellen and couldn’t help but realize how my own shopping habits were so different than what he reported in the article.