This year’s Big Show had retailers buzzing about new products, partners and acquisitions. Following a show of this size and scope, it can be difficult to sift through the noise and figure out which takeaways to apply to your own business operations. Here is a look back at NRF 2018 and what retailers can expect in the year ahead.
According to the National Retail Federation’s annual survey, total spending including college and school combined is expected to reach $83.6 billion, more than a 10% increase from 2016’s $75.8 billion. See what other results this survey revealed for back-to-school and what it could mean for the holiday shopping season.
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.
Retailers need to focus less on the “shiny new objects” and instead focus on systems and solutions that actually move the needle, Ratnakar Lavu, Chief Technology Officer for Kohl’s said at NRF’s Big Show. See what tech tricks the company has up its sleeve, which are coming down the road and how they’re boosting loyalty and engagement.
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.