Did back-to-school buying end summer slump? - USA
ChainStoreAge.com - Sep 8th 2015, 07:48
California - The back-to-school season traditionally gives retailers a much-needed boost, bringing traffic into stores in August. How did things turn out this year?
Not so great it turns out, according to RetailNext Inc., which provides retail analytics for brick-and-mortar stores. The firm’s, monthly Retail Performance Pulse revealed a 7.3% year-over-year decrease in sales on a 9.9% decline in traffic at physical stores for the retail month of August (Aug. 2 through Aug. 29 on the retail 4-5-4 calendar).
"As a season, back-to-school did not provide the lift like it had in past years," said Shelley E. Kohan, VP of retail consulting at RetailNext. "Much like Thanksgiving, today's shoppers are reinventing the back-to-school season, expanding the season both forward and backwards as they seek greater value. Other contributing factors to August's performance were a late Labor Day weekend and a dip in disposable income for apparel and other segments due to the tremendous month experienced by automobile sales."
In some good news, Kohan added that retailers are seeing a more committed shopper when she enters the store, and one who is more compelled to purchase once there. Shoppers are buying at a higher rate, measured by increases in both conversion and average transaction value (ATV)."
The first two weeks of August were the best performing weeks, driven in part by psychological appeal to customers of sales tax-free holidays and corresponding rises in store traffic and conversion. The last week of the month was the worst performing week.
"While August was a tough month for many stores, indicators suggest lots of opportunities for Holiday as employment, income, and interest rates remain positive,” added Kohan. “It will be important for retailers to maximise this holiday season, as holiday 2016 will be challenging, especially with distractions around the Presidential election."From ChainStoreAge.com
Petco opens new DC to keep pace with expansion - USA
12/05/2016 - 14:45
Petco is expanding its store portfolio and distribution center network.
Teen apparel retailer files for bankruptcy - USA
08/04/2016 - 09:16
In a not unexpected move, beleaguered teen apparel retailer Pacific Sunwear of California Inc. filed for Chapter 11 bankruptcy court protection.
Westfield sells five malls in billion dollar deal - USA
22/12/2015 - 09:43
Westfield Corp. announced Monday it has sold five of its U.S. shopping malls — totalling more than 6 million sq. feet of retail space across four states — to help fund a property development program.
Cash is still king with U.S. shoppers - USA
29/07/2015 - 12:48
California - A new survey details what methods Americans are using to pay for goods and services — and which ones are gaining steam.
Oracle launches new retail cloud services - USA
09/04/2015 - 09:48
California – Oracle is releasing six new Oracle Retail cloud services that provide retailers with rapid access to enterprise-grade applications for managing critical e-commerce, customer engagement, order management, order fulfilment, loss prevention, and brand compliance operations.