With Q4 right around the corner, it’s time to quickly look into the pass to gather predictions for the 2021 holiday season.
Analysts were pessimistic going into the 2020 holiday season and were quickly proved wrong when holiday sales were up 5.8% compared to 2019 sales.
This year, with foot traffic increasing and retailers adapting to omnichannel, researchers are very optimistic about the 2021 holiday season.
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.
Holiday 2021 predictions
As Q4 approaches, researchers are expecting a big surge in holiday sales compared to 2021.
Last year, holiday sales saw a 5.8% increase compared to 2019. This year, researchers expect they could rise 7% to 9%, according to the latest projections from Deloitte.
The predicted increase is a result of increasing foot traffic as the year continues and retailers’ ability to adapt to omnichannel solutions.
Even with high hopes for the 2021 holiday season, shipping delays and supply-chain issues are still top of mind for many retailers. In addition to rate hikes, many overseas supplies are encountering trucking and crate shortages.
Black Friday: future and past
For all of retail, August 2021 saw a 15.1% increase to 618.6 billion compared to $537.7 billion in August 2020.
More surprisingly, home furnishing was the second strongest performer of all the retail industries. Compared to August 2020, the home furnishing industry saw a 15.6% increase with $12.5 billion in sales for the month.
And in all honesty, home furnishing deserves the award for best performer of the month. The only industry to outperform them was “nonstore” retail, which could still consist of home furnishing.
The million dollar question
Put yourself in front of the judges on the hit ABC show, Shark Tank. Mr. Wonderful, also known as Kevin O’Leary, offers you the million dollar investment you are asking for if you can answer the following question: “What is the #1 skill needed to be successful in mattress sales?”
Do you know the answer?
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