Holiday consumer spending offers insights into the retail industry, including ecommerce’s continued growth, consumer spending, and customer relationships.
2020 has been extraordinary — the pandemic, natural disasters, and a divisive U.S. election.
Despite this, U.S. retail spending is up. The National Retail Federation recently reported that total U.S. retail sales (excluding automobiles, gasoline sales, and restaurants) for the first 10 months of 2020 increased 6.4 percent from the same 2019 period. And that includes the stunningly poor retail sales in April 2020 when so many stores and businesses were closed.
This isn’t to say that everything is hunky-dory in the retail industry. Just ask Pier 1, Sur La Table, Motherhood Maternity, J.C. Penney, Neiman Marcus, or any of the other dozens of merchants that filed for bankruptcy during the year.
So what does it all mean? What follows are five insights from the 2020 Christmas season.
1. Ecommerce Is Booming
From early October through
Article source: https://www.practicalecommerce.com/5-retail-insights-from-a-covid-christmas
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