Retail bellwether Target melted the holiday season joy over record holiday ecommerce spending of $142.5 billion, reporting disappointing holiday sales in Q3 as toys and electronics underperformed and the company lowered Q4 comparable sales guidance. Ecommerce was a bright spot, up 19%.
Ecommerce spending in the U.S. for November and December posted a new record at $142.5 billion, up 13.1%, according to data from Adobe, while Salesforce pegged worldwide ecommerce spend at $723 billion, an 8% increase. Smartphones accounted for 84% of the 2019 holiday ecommerce growth in the U.S., Adobe said.
Consumer loyalty is up for grabs in 2020, according to a Criteo study, with 73% of shoppers open to taking a chance on brands they haven’t tried but have heard positive things about. The study quantified the evolution of consumers into detectives who compare products, rely on reviews and increasingly shop across channels.
Direct-to-customer (DTC) brands continued their ascension in 2019 with more than 40% of American consumers making DTC purchases, according to a new report from Diffusion PR. Legacy brands have caught the wave by either acquiring their own DTC brands or investing in their own capabilities.
Pier 1 Imports said it plans to close up to 450 stores, nearly half of its 942 locations, reduce headcount and shutter some distribution centers along with other expense reductions as the company is reportedly weighing bankruptcy. The company reported a 11.4% drop in same-store sales and a 13.3% drop in net sales in Q3.
Continuing a shakeup begun when six executives were let go last month by the new CEO, Bed Bath & Beyond plans to sell half its real estate assets, including its headquarters and an unknown number of its 1,500 stores, to a private equity firm, the Wall Street Journal is reporting.
Another Sears brand is being peeled off as Advance Auto Parts will acquire the DieHard brand and its popular, iconic battery line from Sears’ parent company for $200 million, providing a much-needed cash infusion, according to CNBC. This follows acquisitions of Craftsmen and Sears Hometown brands.
Ecommerce holiday sales rose 18.8% over 2018, driving 3.4% overall growth in seasonal retail, delivering a very merry season for merchants, according to the Mastercard SpendingPulse holiday report. Ecommerce growth was up slightly from an 18.4% gain in 2018, accounting for 14.6% of total retail, according to Mastercard.
With historically low unemployment, the competition for reliable hourly workers has never been so stiff. Traditional employers are further hampered by gig companies luring workers with promises of flexible schedules. Here are some hiring and workforce trends to watch out for in 2020 that can impact your business.
Amid scant post-Super Saturday reports, Adweek was signaling more Super Saturday shopping took place in stores vs. online, despite Amazon’s modified delivery options, for example, and competition for fast last-minute delivery between retail giants Target and Walmart.