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Holiday sales better than expected; data reveals winners — and losers
It was a less than merry holiday for some retailers, especially in the department store sector, but total sales still managed to beat industry projections, fueled by a strengthening economy. Retail sales (excluding autos, gas stations and restaurants) during November and December rose 4% over 2015 to $658.3 billion, according to the National Retail Federation. The group had forecast sales would rise 3.6% to $655.8 billion.
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Eight out of 10 retailers say they need stores; only half of consumers agree
An international study conducted by Capgemini found 80% of retail executives believing in the sanctity of the physical store. Only 45% of shoppers, however, felt the same way. The consulting company’s Digital Transformation Institute surveyed 6,000 consumers and 500 retailers in the U.S., China, and seven European nations and found a consumer base much more taken up with technology and online shopping than leading merchants were.
