Retailers with a physical store presence confront new and unprecedented considerations for this holiday shopping season. In what numbers will customers return in-store? Will eCommerce orders and demand for curbside and in-store pickup remain high or increase further still? Will supply chain disruptions remain and will retailers actually be able to maintain inventory and fulfill orders?
Being adaptable will be paramount. Signs that this year’s holiday season will be different already abound. Walmart made the surprising decision to close all its stores on Thanksgiving Day, the first time since the 1980s.
Questions about the impact of COVID-19 still linger. As some regions see numbers stabilize, others are witnessing surges with looming thoughts about a second wave as the world awaits approved vaccinations. It’s making demand difficult for retailers to predict.
The U.S. Department of Commerce’s “Advance Monthly Sales for Retail and Food Services” report for May 2020 showed a 17.7% rise in retail sales for the month compared to April. That was the biggest month-over-month increase since 1992, but still down 8% from the year prior.
This guide will explore the strategies and tactics that will ensure your business’ success this holiday season and beyond.