Episode 17: NRF BIG Show – What We Thought, Holiday Spending Up, Early Retail Wreckage

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NRF BIG Show – What We Thought

  • Retailers understand they have to perform better. Not many are doing well overall – especially large stores. Many were roaming the halls in packs looking for solutions – perhaps solutions to problems they don’t know they have yet or trying to figure out how to fit bridge the gap between the technology they saw and the pain points they currently have.
  • Not as many vendors talking about omnichannel, probably because it’s been saturated in the industry for years now. However the problem still remains. Retailers need to fully join the online and offline experience. Most still have not, at least effectively.
  • More robots.

Holiday Spending Up

  • The final tally includes $122.9 billion from non-store sales, which includes e-commerce. Non-store sales were up 12.6% from 2015. The overall total exceeds the NRF’s forecast of $655.8 billion, which would have been an increase of 3.6%.
  • According to data presented at NRF, retail sales during November and December increased four percent over 2015 to $685.3 billion.

Early Retail Wreckage

Retail stores continue to close. Many are department stores and some are specialty retailers. The question is, what will they re-invest in for growth? If anything?

NRF RISE (Retail Industry Skills & Innovation) Up – A new program spearheaded by NRF. Could this help future-proof some retailers?

  • The effort brings together 21 merchants, including Wal-Mart, Macy’s, Target, Neiman Marcus and Under Armour, who have pledged to help individuals secure the skills and training they need to land jobs in the retail sector, regardless of their educational background, economic means or age.

More information on the program: https://nrf.com/career-center/riseup

 

 

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