Mass Merchant

Black Friday weekend is just around the corner. But as retailers remained focused on one-day sales, exclusive sneak peeks and door busters, they are missing the boat on a much more lucrative opportunity — Singles’ Day.  

Walmart is setting some lofty goals for itself on such critical issues as sustainability and job creation.    In remarks Friday at the Net Impact Conference, Walmart CEO Doug McMillon outlined a "new roadmap" that will guide the company’s role in society on critical issues during the next several years, and pointed to a “new era of trust and transparency.”  

It may only be the first week of November, but American shoppers are steadily crossing items off of their holiday shopping lists.   As of the end of September, one-third (33%) of consumers had already started their holiday shopping, up significantly from 25% in 2015. Further, they expect to spend an average of $908, an 8% increase from last year ($839 in 2015). Among affluent consumers, this threshold increases to an average of $1,513.  

Target, HomeGoods, and Petco will be opening this month at Closter Plaza, a Whole Foods-anchored center in Closter, New Jersey, undergoing a complete redevelopment.   Owner Edens has stated it is “re-energizing” the 208,337-sq.-ft. center with tenants possessing greater appeal to affluent local residents. The developer reports that the average household income within a five-mile radius of the center is $134,000.  

Holiday spending is expected to spike by a solid 4%.   That’s according to the “2016 Holiday Season Forecast,” an annual report from investment firm JLL that is based on responses from 2,800 shoppers across 31 shopping centers.  

That was fast.   Anne Dament, senior VP of grocery merchandising for Target Corp., is leaving the chain, after less than 18 months on the job. Her last day will be Nov. 18.   Damen’s exit will mark the third high-level executive departure at Target in less than three months. In August, the chain’s chief marketing officer, Jeff Jones, resigned to join Uber. And in September, chief digital officer Jason Goldberger left.    

Black Friday may be considered one of the biggest shopping events of the year, but interest among consumers continues to dwindle.   Specifically, 31% of respondents in the United States said they have always disliked shopping on Black Friday, and 29% believe it is simply a marketing trick with retailers manipulating pricing to convince consumers they are getting a good deal.