The great retail migration is coming.
Customers are just as eager as retailers are to get back to shopping at brick-and-mortar stores. With 71% of shoppers already shopping in-store at least once a week, customers are starting to get their toes wet before fully diving into in-person shopping.
This week we take a look at predictions for future foot traffic and prepare for what to expect for Black Friday 2021.
WHAT ELSE IS IN STORE THIS WEEK?
- Foot traffic analysis and predictions for the future.
- The evolution of Black Friday and what to expect this year.
- Get our upcoming research reports.
- Dos Marcos on how Miskelly’s Secret to Success it PTF.
FOOT TRAFFIC INDEX
Here’s a look at last week’s foot traffic compared to the same time last year.
FOOT TRAFFIC TRENDS
Industry insights so you can convert your foot traffic into more sales.
Customers plan their return
Although we don’t know when the pandemic will end, we do know that consumers are ready at a moment’s notice to return to their brick-and-mortar shopping.
In a recent survey by MorningBrew, 71% of respondents say they shop in-store at least once a week, which is up 1% from when the same survey was done in March 2021.
Looking forward, 63% of shoppers say they will do most of their shopping in person a year from now.
More importantly, 25% of respondents say they are now buying big-ticket items in person, and 66% say they will be a year from now. As we all know, no one chooses to buy big-ticket items without seeing them in person.
The pandemic forced the hands of customers into buying big-ticket items online, but consumers are now starting to feel comfortable going back to shopping in person.
Black Friday: future and past
What started as a one-day sale has transformed into a month-long promotion and sales event.
Whether it was social restrictions that pushed this change or it was the natural progression of the holiday, the jam-packed lines and fights over popular items are becoming something of the past.
Now that deals have to compete with Cyber Monday the following week, Black Friday sales start early and last through Cyber Monday in hopes of winning the sale over the digital rival.
Despite the hype around Black Friday, Cyber Monday sales have exceeded Black Friday sales for the last 7 years.
Looking forward to Black Friday 2021, Retailers may be able to capitalize on people looking for the experience more than a good price. As we discussed earlier, customers are counting down the days until they can fully return to shopping in brick-and-mortar stores.
THE FAM
Miskelly’s Secret to Success is PTF.
In this week’s Dos Marcos Podcast, Mark and Quinn discuss Quinn’s visit to Miskelly’s Furniture–discussing how they rolled out the red carpet for his arrival and then discussing how our name ended up in lights.
They also overview the secret ingredients to their culture and how you can implement them little by little and create a lasting impact for both your employees and your customers.
NOTEWORTHY NEWS
Report: Personalization and advanced analytics top list of retail initiatives for 2021.
Ask retailers: 7 simple yet effective strategies to sell morethan your competitors.
Stay sharp: An entrepreneur’s handbook to getting more done every day.
More for less: How to shorten your sales cycle and convert more leads.
RANDOM IRRELEVANCE
Climate change: A firm raises $15m to bring back woolly mammoth from extinction.
NASA: Mars rover rocks reveal ‘potentially habitablesustained environment’.
Micro-photography: Nikon Small World Photomicrography 2021 – pictures impossible to see with the human eye.
Pepsi goes analytical: PepsiCo is launching Pepviz Data Science practice for retail partners.