Marshal Cohen has religiously visited the same stores every holiday season since...
NEW YORK - Marshal Cohen has religiously visited the same stores every holiday season since 1999.
Major shifts in consumer behavior and preferences have forced Cohen, who works for market research firm NPD Group, and other retail analysts to approach their jobs very differently than two decades ago. A record number of U.S. consumers spending more online, coupled with a condensed holiday shopping season and year-round discount wars among retailers, has forced analysts to get creative, with many shifting away from old-school tactics to measure a company’s overall performance.
Craig Johnson of Consumer Growth Partners says that traditional metrics such as foot traffic, average selling price, and average basket size can often still be highly indicative of what’s happening in stores. “I think what it really boils down to is the customer journey has changed - it can start anywhere, in-store, online and end anywhere.”When Marie Driscoll, Coresight Research’s managing director of luxury and fashion, received an email from Saks Fifth Avenue less than a week before Black Friday alerting her that several small leather designer goods such as wallets were on sale, she took note.
A source with knowledge of the matter said Nordstrom looks for opportunities to launch new brands and expand existing partnerships with limited distribution and emerging brands to differentiate their product line.U.S holiday retail sales during November and December are expected to increase by around 4% from 2018 to as much as $730.7 billion, according to the National Retail Federation - a percentage rise dwarfed by the 13.
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