Even as the cost of living surges and more consumers say they are stretched too thin, they’re also spending more on impulse purchases.

With the help of “revenge shopping”, Americans spend an average of $314 a month on impulse purchases, up from $276 in 2021 and $183 in 2020. In fact, A recent survey by Slickdealsfound that 73% of adults said most of their purchases tend to be spontaneous, and 56% of consumers said that more than half of their online purchases are spontaneous.

Not only has revenge shopping played a role in impulse purchases, but BNPL has played a major role in encouraging consumers to spend more than they can afford on impulse purchases.  Almost 50% of shoppers say they wouldn’t have made the same purchase if they didn’t have the option to finance. 

Click HERE to learn more about the recent surge in impulse purchases.

New this year, Furniture Today highlights the 40 Under 40, rising stars, and up-and-coming leaders in the home furnishings industry.

They celebrate the next generation of furniture industry leaders as they look at what the industry will look like in the decades to come.

Congratulations to Doorcounts customers Kyle Deets, Brian Morgan
Alex Ruban, and everyone else for their accomplishments.

Click HERE to see the entire 40 under 40 list.

While a majority of the trends we discuss regard trends that help you sell more, a recent retail trend has become a red flag to look for.

Quiet quitting is about seeking greater work-life balance — except you get to keep your job. Workers are doing the bare minimum at your job, including avoiding overtime and tasks outside your job description as well as limiting engagement at work, such as switching off devices and logging off after work hours.

As said by The New York Times, “For some, it was mentally checking out from work. For others, it became about not accepting work without additional pay.” The trend has been circulating throughout social media and has become something to keep your eye on as new workers enter your team.

Click HERE to learn more about Silent Quitting.

Even as the cost of living surges and more consumers say they are stretched too thin, they’re also spending more on impulse purchases.

With the help of “revenge shopping”, Americans spend an average of $314 a month on impulse purchases, up from $276 in 2021 and $183 in 2020. In fact, A recent survey by Slickdealsfound that 73% of adults said most of their purchases tend to be spontaneous, and 56% of consumers said that more than half of their online purchases are spontaneous.

Not only has revenge shopping played a role in impulse purchases, but BNPL has played a major role in encouraging consumers to spend more than they can afford on impulse purchases.  Almost 50% of shoppers say they wouldn’t have made the same purchase if they didn’t have the option to finance. 

Click HERE to learn more about the recent surge in impulse purchases.

Over the past few years we have seen industries switch from being predominately digital to physical, and vice versa.

While big-ticket items such as mattresses used to rarely be sold online, we have seen a plethora of companies, such as Casper, making a majority of their sales online.

Conversely, the shoe industry has seen a major shift over the last year. A recent survey found that nearly 75% of footwear spending now occurs online. With e-commerce sales expected to rise, more consumers are becoming comfortable with shopping online for their clothes and shoes.

Click HERE to learn more about how consumer habits are changing.

As we head into the second half of 2022, TalkBusiness has released their State of the State Mid-2022 report on the retail industry.

As we’d all expect, continued supply chain delays, escalating prices, labor shortages, and the threat of a recession are among the top concerns, according to market watchers.

On the bright side,  retail sales are now forecast to grow between 6% and 8% to more than $4.86 trillion by the end of 2022. This figure compares with the 14% annual growth rate from last year, which had the highest growth rate in more than 20 years.

As for physical store trends, Salesforce says that  60% of digital orders are now influenced by the physical store. By no surprise, in-store experiences continue to have a major impact on where consumers decide to buy, whether that be online or in-store.

Click HERE to read the full Mid-Year report.

We are pleased to announce our integration with PerformNOW, the largest retail home furnishing industry performance group.

This technology automatically reads all Doorcounts’ traffic analytics and sales data and integrates it into PerformNOW’s CRM platform. Fast mobile-enabled metrics, automation of follow-ups via email or text, task assignment, and visual pipeline tracking enable businesses to focus on converting more leads and increasing average sale.

One common user, Gardner Malouf, of Malouf Furniture, says, “PerformNOW and Doorcounts are indispensable in our business. Doorcounts is our traffic counter, our up system, and used for sales analytics. It integrates with PerformNOW, which we use for website tracking, sales follow-up automation, open order follow-up, delivery communications, service ticketing, and re-marketing. Integrated technology is critical in managing the customer experience and getting ahead of the competition.”

Click HERE to learn more.

After a nearly 2-year period of people working from home, downtowns are slowly starting to reach pre-pandemic levels of foot traffic.

With many companies switching to a full-time office or hybrid work schedules, the gap from 2019 has now narrowed by nearly a half from January 2022 when traffic was -42.9% below the 2019 level. For June, it was -26.3% below 2019 from -27.8% in May.

Despite traffic still being down compared to 2019, the positive trend gives up hope for the months to come for retail stores located in urban areas. As I think we can all relate, the newly revived energy in downtown areas is a much-needed change-up.

Click HERE to learn more about downtown foot traffic trends.