Gift Retail Strategies
Trends from 2013 point to creativity with promotions, hours to increase foot traffic and business
The holiday season is the biggest time of year for retailers of all shapes and sizes. These sales can account for as much as 20 percent to 40 percent of a retailer’s annual sales. Historically, nearly one-fifth of the industry’s annual sales come directly from the months of November and December, making the holiday season the top consumer-spending event of the year, according to the National Retail Federation.
NRF forecast in July that retail sales would grow 3.6 percent in 2014 over 2013. NRF had lowered its retail sales forecast for 2014 in July because of slow growth recorded during the first half of the year but said sales are expected to grow significantly faster in the second half of the year.Continue Reading »