SAN JOSE, Calif. – November 25, 2014 – RetailNext Inc., the worldwide leader in applied Big Data for physical retail stores, today announced positive predictions for U.S. retail over the Thanksgiving holiday and ‘Cyber-Monday’ – a 2 to 3 percent increase in brick-and-mortar sales to go along with a projected 16 to 18 percent increase in online sales.
“Our monthly Retail Performance Pulse provides valuable insights for this, the most critical time of year for our retailer customers, and combined with positive macroeconomic indicators, signals an optimistic Holiday outlook,” said Chitra Balasubramanian, head of business analytics at RetailNext. “This year, for the first time, RetailNext will publish a daily Thanksgiving Flash of its Retail Performance Pulse over the holiday weekend, providing frequent updates toward what we see as an increase in sales despite small decreases in store traffic.
RetailNext’s daily Thanksgiving Flash is a daily composite of key in-store retail metrics for the Thanksgiving holiday weekend, designed to showcase macro retail performance and enable brick-and-mortar retailers to benchmark their performance. Based on the monthly Retail Performance Pulse, the Flash is developed from specialty and large format retail stores on the RetailNext analytics platform and located within the continental U.S. It will be available starting Friday at https://retailnext.net/resources/thanksgiving-flash/.
“Despite the dramatic growth of online sales, physical store retail still represents more than 90% of total industry sales,” said Marc Dietz, RetailNext’s Chief Marketing Officer. “With factors like online and mobile sales growth, omni-channel shopping habits including showrooming, and the holiday ‘creep’ of earlier sales, these Flash insights offer a macro-industry trend view and provide our customers with valuable metrics with which to understand and improve their individual in-store experiences.”
While improved general economic conditions will spur holiday shopping activity, U.S. consumers will likely continue to be value-focused as real, inflation-adjusted mean household income has remained flat for the last decade.
Based on retail trends and broader macro-economic data, RetailNext’s predictions for U.S. retail stores during Thanksgiving weekend are as follows:
- Store traffic flat to slightly down (0% to 2% decline) year-over-year
- Sales up 2-3% due to upticks in Average Transaction Value (ATV) and Conversion
- Conversion up 1-2 points
- ATV up 1%
The first technology platform to bring e-commerce style shopper analytics to brick-and-mortar stores and malls, RetailNext enables retailers to collect and correlate data from the broadest available set of data sources. More than 160 retailers and brands worldwide have adopted RetailNext solutions to glean the insights necessary to improve customer experience, increase same-store sales, reduce theft and eliminate unnecessary costs.
RetailNext measures the behavior of more than one billion shoppers per year by collecting data from more than 65,000 sensors in retail stores and analyzing trillions of data points annually. Headquartered in San Jose, CA, RetailNext is a growing global brand operating in 40 countries. For more information, please visit www.retailnext.net.
RetailNext Inc. and RetailNext are trademarks of RetailNext Inc. in the United States.