Retail has had an interesting year in 2014. It started with a harsh winter, where inclement weather kept many shoppers home. Then, when they returned to stores, traffic was generally down year over year, as where sales. However, Average Transaction Values (ATV) and Sales per Shopper (SPS) have enjoyed significant increases.
The trending message: brick-and-mortar retail has ample opportunity for the retailer who can deliver value, differentiated service, and a seamless, consistent branded experience across all shopper touchpoints and channels.
Retailers are actively prepping for the upcoming Holiday season, and there’s good news on which to develop strategies. The Consumer Confidence Index (CCI) rose for the fourth consecutive month in August. Always a positive sign, it couples nicely with data from RetailNext’s August Composite Index that reported increases in conversion (0.4%), ATV (2.0%) and SPS (4,2%) year over year.
August is generally Back-to-School season, and it is an important barometer for retailers, as it provides a preview of what might be expected by Holiday. Overall, consumer sentiment and retail consumption is up. But, with online retail continuing to grow at a faster pace, it’s important for physical retailers to continue to make the most of each and every customer interaction, and continue the trend of higher ATV and SPS.
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