Study: Retailers are eyeing a jump in sales — and seasonal workers — this holiday season
Optimistic that holiday sales will increase this year, retailers are stepping up their seasonal hiring plans.
This was according to a new Korn Ferry retailer survey. The study, which was conducted in September, is based on responses from 20 major U.S. retailers representing $160 billion in sales, and 1 million employees.
According to data, nearly half of the respondents (45%) said they expect to see an increase in holiday sales in 2017, and none of the respondents expect a decrease in sales. To meet this expected demand, 80% are planning to hire the same or more seasonal workers than last year.
Hiring additional seasonal retail staff may prove to be difficult, however. Forty percent of respondents believe there will be fewer applicants in the candidate pool this year, and 40% anticipate paying higher hourly wages. Specifically, 40% of participants expect minimum wage increases and market increases in the retail industry to exacerbate the situation.
“Despite rocky times this year with brick-and-mortar store closings at near-record levels, a relatively strong economy is expected to bode well for retailers this holiday season,” said Craig Rowley Korn Ferry senior partner, consumer and retail. “However, competition will remain fierce and retailers must come up with innovative approaches to win over consumers and keep them loyal.”
To help differentiate themselves in the marketplace, 20% of respondents said they are placing a greater emphasis this year on hiring employees who align with their brand culture. Meanwhile, 15% said they are placing a greater emphasis on the in-store retail experience.
“While 75% of respondents say they will use their mobile platform to help drive sales this holiday season, it’s clear that they still are focusing on the traditional in-store experience,” said Rowley. “But that experience is changing by becoming more intimate and tailored to the specific demands of the shopper.”
This was according to a new Korn Ferry retailer survey. The study, which was conducted in September, is based on responses from 20 major U.S. retailers representing $160 billion in sales, and 1 million employees.
According to data, nearly half of the respondents (45%) said they expect to see an increase in holiday sales in 2017, and none of the respondents expect a decrease in sales. To meet this expected demand, 80% are planning to hire the same or more seasonal workers than last year.
Hiring additional seasonal retail staff may prove to be difficult, however. Forty percent of respondents believe there will be fewer applicants in the candidate pool this year, and 40% anticipate paying higher hourly wages. Specifically, 40% of participants expect minimum wage increases and market increases in the retail industry to exacerbate the situation.
“Despite rocky times this year with brick-and-mortar store closings at near-record levels, a relatively strong economy is expected to bode well for retailers this holiday season,” said Craig Rowley Korn Ferry senior partner, consumer and retail. “However, competition will remain fierce and retailers must come up with innovative approaches to win over consumers and keep them loyal.”
To help differentiate themselves in the marketplace, 20% of respondents said they are placing a greater emphasis this year on hiring employees who align with their brand culture. Meanwhile, 15% said they are placing a greater emphasis on the in-store retail experience.
“While 75% of respondents say they will use their mobile platform to help drive sales this holiday season, it’s clear that they still are focusing on the traditional in-store experience,” said Rowley. “But that experience is changing by becoming more intimate and tailored to the specific demands of the shopper.”