Consumer Attitudes & Behavior

A cloud computing/e-commerce giant heads up Fast Company’s annual ranking of the 10 most innovative companies in retail. Amazon not only topped the retail sector category, it also came in number one in the overall World’s 50 Most Innovative Companies listing. (Rounding out the top five: Google, Uber, Apple and Snap.)

The National Retail Federation’s economic forecast for 2017 is a mostly positive one.   The association is projecting that retail industry sales, which exclude automobiles, gasoline stations and restaurants, will grow between 3.7% and 4.2% over 2016, roughly in line with last year’s 3.8% increase.     Online and other non-store/online sales, which are included in the overall number, are expected to increase between 8% and 12%.  

Within the next decade, online food shopping will reach maturation in the U.S., far faster than other industries that have come online before.   At least that’s according to the “Digitally Engaged Food Shopper,” a report from the Food Marketing Institute (FMI) and Nielsen that takes a comprehensive look into the behaviors, motivations and expectations of the digitally-engaged food shopper.   

Not only was the 2017 Super Bowl a game for the record books, it also drove shoppers to their favorite e-grocers to prep for the big game.   As time-pressed Americans football fans shopped with online grocers for game day necessities, they spent more than $150.18 per order — just a few cents more than the average cart size of all goods purchased on Black Friday, which was $149.68.  

Off-price giant TJX Cos. stands to gain traffic from the planned shutterings of select Macy’s and Kmart stores this year.    A study by Foursquare indicates that T.J. Maxx will gain traffic from Kmart store closings, while Marshalls will benefit from Macy’s closings, reported Boston Business Journal. Both banners are owned by TJX Cos.  

Gap Inc. reported higher than expected sales for January and the fourth quarter, fueled by strong increases at Old Navy.    The retailer reported that net sales for the four-week period ended January 28, 2017 increased 2% to $828 million.    Total same-store sales for the month rose 1%, led by a 3% gain in the namesake brand and a 2% increase at Old Navy. The ailing Banana Republic continued to slump, with a 4% decrease.   

The number of bankruptcy filings by U.S. retailers nearly doubled in 2016, and 2017 looks bleak for the industry.   That is according to a report by The Deal, a business unit of TheStreet.  

More shoppers are buying groceries online, but a majority are ready to switch grocers in favor of a better online experience.   This is according to the “2017 Grocery eCommerce Forecast,” a report from Unata, which surveyed over 500 U.S. shoppers about online grocery shopping habits, intent and barriers. Details revealed that 31% of U.S. shoppers are likely to order groceries online in 2017, up from 19% of shoppers that bought groceries online in 2016.