Valentine’s Day has become big business for retailers and continues to grow. In 2016, the National Retail Federation reported spending to reach $19.7 billion. Consumers were set to spend, on average, $146 each on gifts for significant others, family and friends. Here are some tips that can help you focus your efforts when attracting consumers to your Valentine’s Day offerings.
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What is the outlook for retail in 2017? What macro factors will affect it? How about the continued migration to omnichannel and store closures? Multichannel Merchant Senior Content Manager spoke with Jack Kleinhenz, chief economist of the National Retail Federation at the Big Show in New York to discuss these topics and take a glimpse into the “crystal ball.”
With many more people shopping online and by mobile than ever before, and hurried customer service during the busy holiday season, retailers need to be on the lookout for friendly fraud and investing in solutions to eliminate their risk. Here is what retailers should know during this busy time of the year.
Retail imports based on cargo volume at the nation’s major retail container ports is expected to decline year-over-year for the next few months but the first half of the year should still amount to a 4.5% increase compared with the same period last year, according to the National Retail Federation.
At the same time, import volumes are returning to West Coast ports after the labor issues that plagued the first half of 2015. Busy East Coast ports like New York and New Jersey saw large spikes in the double digits last year, as shippers sought alternate means to ensure product delivery, even if it meant significantly longer transit times.