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RetailNext Introduces New Retail KPIs on Heels of Holiday 2014 Results
Overall retail sales had grown by 3.1% in 2013′s holiday season (November and December 2013), and net apparel and accessories sales had increased by 2.3%. For 2014, analytics firm Retail Next has estimated overall retail sales to have grown 3.5% to 4% during November and December. Since apparel market growth was 80 basis points slower than overall retail sales growth in the 2013 holiday season, we assume that apparel sales would have lagged overall industry growth by 50 basis points during 2014 holidays, given that growth was strong in November.
In another sign of disappointing Christmas sales for brick-and-mortar retailers, RetailNext said foot traffic dropped 8.3 percent during November and December versus a year ago at the specialty stores and large retailers it tracks. However, customers who did visit stores spent slightly more on average than a year earlier. “The online promotions that came out early in November really took a lot out of the brick-and-mortar business as they captured the shopper very early this year,” said Shelley Kohan, vice president of retail consulting at RetailNext.
On-line shopping was big this year. According to comScore, reported holiday season commerce from desktop computers hit $48.3 billion in November and December, a 15 percent increase over last year, with the most recent week showing an 18 percent growth in the last full week before Christmas. Shelley Kohan, vice president of retail consulting for the RetailNext, said weather, convenience, and changing shopping trends have led shoppers to the web. “As a result, there are fewer visits to stores,” Kohan said. “However, when those shoppers do get to their favorite retail stores, they are spending more.”
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