Consumer Attitudes & Behavior

Ollie's Bargain Outlet Holdings raised its full-year outlook after shoppers flocked to its stores in search of its signature “good stuff cheap” during the holiday season.   For the nine-week period ended December 31, 2016, Ollie’s total sales increased 16.3%, with a same-store sales increase of 1.9%. The discounter said it now expects full-year net sales to total about $888 million, ahead of the FactSet consensus of $874 million. It expects same-store sales growth of about 3% and per-share earnings of about 93 cents.

Despite being criticized as being impersonal gift options, gift cards continue to rise in popularity.   In fact, gifts care are increasingly expected and eagerly used, especially among "older" millennial adults, according to “Prepaid and Gift Cards in the U.S., 5th Edition,” a report from market research firm Packaged Facts.  

Despite disappointing results from some retailers, overall holiday sales are shaping up to be in line with industry projections.  

Neiman Marcus Group is not going public anytime soon.    In a filing on Friday, the luxury department store retailer said it would withdraw its initial public offering, having determined "that it is not in its best interests" to proceed with the initial public offering at the current time.     

Millennials grab most of the attention from brand marketers, but baby boomers still have greater disposable income and far more purchasing clout. 

GNC hit the reset button on December 28, 2016, closing its 4,464 U.S. owned and franchised stores for the day as it rolled out a simplified pricing strategy with items priced the same across all channels, a new app, a new rewards program and installed new POS terminals.    Field Agent, a consulting firm that conducts on-location auditing and research, recently sent “agents” to 52 stores to check out the changes. In some good news for struggling GNC, the reviews were mostly positive.     

Target Corp. its updating its experimental concept store in San Francisco, Target Open House, which opened in summer 2015 as a showcase for smart, “connected” home technology.    In a blog on its website, Target said Open House has closed for a significant remodel project. It will reopen to the public on Friday, Feb. 10.  

Retailers’ returns policies are critical factors in consumers' purchasing decisions. But many consumers are far from pleased with their experience.    This was revealed in Voxware’s third biennial report, which highlights why consumers return items purchased online or by phone and how their experiences with the returns process affects their future intentions to shop with retailers.