Omnichannel

Upscale brands are grabbing the attention of holiday procrastinators.   Three in 10 shoppers are still scrambling to finish holiday shopping, according to the National Retail Federation, and many are jumping online in search of their perfect, albeit “last minute” holiday gifts.   

Finish Line missed analyst estimates for third quarter earnings, an issue the company blames on declines in its apparel and accessories categories.   The athletic specialty retailer reported revenue of $371.1 million for the 13 weeks ended Nov. 26, 2016. While this is an increase of 3.0% over the prior year period, it falls short of the consensus estimate of $411.61 million.   

The future of retail is mobile. Yet, brands are failing to keep pace with consumer expectations.  

Bed Bath & Beyond Inc. reported less-than-expected earnings for its third quarter, hurt by continuing higher expenses and flat sales.   The retailer’s profit dropped to $126.4 million or $0.85 per share, from $177.8 million or $1.09 per share in the year-ago period.    Sales inched up 0.1% to $2.96 billion, also lower than expected.  

Holiday shopping is no longer what it used to be.    The rise of online shopping and mobile has transformed the way in which consumers purchase gifts. It is no longer black and white for retailers either, as cutting-edge platform and technology adoption is a pre-requisite in order to remain competitive. And all factors are causing new challenges related to managing and supporting back-office and customer-facing systems, as well as meeting evolving customer expectations.   

Dollar sales for holiday 2016 are trending lower than last year — with some exceptions — and retailers are partially to blame.   According to The NPD Group’s weekly point-of-sale results for key general merchandise categories across in-store and online channels, dollar sales in the sixth week of the 2016 holiday shopping season  were 5% lower than the same week in 2015. Cumulatively, dollar sales in the first six weeks of the 2016 holiday shopping season were 4% behind the first six weeks of the 2015 holiday season.

Just in time for holiday entertaining, BJ’s Wholesale Club members can now place deli and bakery orders online.   The service, which augments BJ’s e-commerce program, enables members to place orders for deli platters, sandwiches and 3-ft. subs, freshly baked cookies, pastries and customizable cakes and cupcakes. All merchandise is provided by Wellsley Farms, according to the retailer’s website.  

Christmas Eve may only be a mere three days away, however 20% of adults plan to shop for holiday gifts or holiday-related items that day.   That’s according to “The 2016 ICSC Super Saturday study,” which was conducted by the International Council of Shopping Centers (ICSC) from December 8-11, 2016. The survey comprises responses from 1,025 adults of 18 years of age and older.