Friday, July 29, 2016

Retailers Install Bars, Hoping To Lure Shoppers Offline



Work's out and it's time for happy hour. Where to go for a stiff drink?

One surprising destination of choice: Urban Outfitters. The hipster retailer has begun to offer customers much more than clothing at certain locations. Now visitors can shop, or just head for its bar area.

Aiming to stand out in a world overflowing with retail shops and online competitors, some chains want to become destinations for diners and drinkers, not just shoppers.

The Urban Outfitters here in Brooklyn, called Space Ninety 8, has two bars — one on the roof and another on the third floor near the men's department — as well as an Israeli barbecue restaurant. The store doesn't discourage walking around the clothing displays with a drink in hand....

Read the entire article courtesy of USA Today:

Thursday, July 28, 2016

Retail Sales Forecast Looking Brighter



In the face of sluggish global growth and uncertainty over the presidential election, the retail industry's trade organization sees signs that the positive trends influencing consumer spending are out muscling the negative.

As such, the National Retail Federation on Tuesday raised its full-year sales forecast to 3.4 percent growth, up slightly from its previous expectation for a 3.1 percent lift. It cited improvements in the housing market, job growth and higher wages as three factors that should boost consumer sentiment through the end of the year.

A larger-than-expected lift in online sales is likewise expected to drive additional growth, with the NRF now calling for a 7 to 10 percent increase in digital revenue. That compares with its prior forecast for a 6 to 9 percent lift.

"Economic indicators are showing positive trends for retail," NRF President and CEO Matthew Shay said in a news release. "Challenges remain, with some greater than others depending on the retail category, but consumer confidence remains high."...

Read the entire article courtesy of CNBC:

Wednesday, July 27, 2016

RETAILERS USE THEIR PHYSICAL SPACES TO HOST EVENTS AND PUMP UP SALES!



“We frequently see repeat customers coming back to make purchases after experiencing our brand for the first time.”
Bricks-and-mortar retailers looking for a reboot need go no further than their physical space for a new lease on sales.

So says Kapow, a Chicago-based company that connects clients planning events with retail venues across the country, in real time. Part disruptor and part event planner, Kapow makes it possible for retailers to transform unproductive dayparts or even unused space into sales vehicles.

These stores have the ability to generate pure profit through the retail space they already have, simply by using bricks-and-mortar locations as an events space after hours....

Read the entire story courtesy of National Retail Federation:

Tuesday, July 26, 2016

Climbing Walls Are Moving Into a Shopping Center Near You!



Walk inside a former grocery store in Salt Lake City, and you’ll find customers scaling the walls.

The site, which used to be a Smith’s supermarket, is now a climbing gym. There’s a towering wall that lets as many as 100 people ascend a simulated rockface for two or three hours at a time. Outside, the parking lot is regularly packed with cars.

Momentum Indoor Climbing has served as the anchor for the neighborhood’s strip mall since 2014, assuming a role that’s typically held by large retailers such as big-box stores. It’s part of a shift for shopping centers, many of which are scrambling to replace tenants. With several national chains filing for bankruptcy this year and even Wal-Mart Stores Inc. shuttering dozens of supercenters, there’s plenty of space to fill....

Read the entire article courtesy of Bloomberg:

Monday, July 25, 2016

Deloitte Survey: Back-to-School Shoppers Look for Easy A's



More than two-thirds of surveyed parents say school recommendations influence spending more than children's requests; Brick-and-mortar still rules for back-to-school.

Retailers that promote early deals and take the hassle out of back-to-school shopping will get the extra credit this year, according to Deloitte's "2016 Back-to-School Survey" of parents with children in grades K-12.


On average, parents will spend $488 for clothing, accessories, school supplies, computers and other electronics for their children this year. The earlier the shopper, the higher the budget: Respondents who said they plan to start shopping for back-to-school by the end of July are likely to spend 26 percent more than those who begin in August or later....

Read the entire article and see the survey courtesy of PR Newswire:

Friday, July 22, 2016

Americans Spent Gas Savings on Dining, Shopping ... and More Gas



Falling oil prices saved Americans hundreds of dollars at the gas pump in 2015, and a lot of them spent those savings … at the gas station.

Middle-income households saved an average of $477 through the year, thanks to gas prices that fell 28 percent from 2014. The biggest business winners of the gas-price windfall were restaurants and retailers, both of which saw their share of consumers' budgets increase. The data come from a report by the JPMorgan Chase Institute published Thursday.

A big chunk of the gasoline savings — a full $155 — was spent right back at the gas station. Consumers bought more gas, higher-quality gas and snacks....

See the rest of the findings courtesy of CNBC:

Thursday, July 21, 2016

The 'Me Generation' Is Still The Most Valuable Generation



The marketing landscape today bares little similarity to that of the 1970s, yet, through the dawn of digital and proliferation of new channels, one element has remained consistent: the focus on consumers between ages 18 and 49. 

The entire idea that this demographic cohort is the target-customer Holy Grail began with baby boomers. They were a new breed of consumer, born into the boon times after World War II and dubbed the “Me Generation” for their newfound love of all things material. They inspired a revolution in advertising, but at some point, marketers miscalculated. The importance was attributed to age, when it should have been affixed to the group itself....

Read the entire article courtesy of MediaPost: