Survey: Consumers not holding back in 2014
New York — Almost seven-in-10 consumers surveyed expect to make more money, save more money and afford things they need in 2014, according to RetailMeNot’s 2014 Shoppers Trend Forecast.
Data from the survey paints an in-depth picture of the 2014 consumer, with 79% of consumers reporting that they intended to shop the same amount or more online in 2014 versus the prior year, and 24% saying they intend to shop online more this year.
In addition, 67% of consumers (72% of women) surveyed said that they wanted retailers to offer more discounts in 2014 than they did in 2013. And nearly one-in-four (23%) consumers said they want a more seamless experience between their in-store and online shopping activities.
In other findings:
- Seventy-six percent consumers said they typically shop for clothes and shoes throughout the year. February was the lowest, with 17% of consumers saying they intended to purchase clothes and shoes. September was the highest point when 26% of consumers also said they intended to makes purchases in this product category.
- 55% of consumers typically shop for home and garden products and supplies in a calendar year.
- Interest is highest in purchasing home and garden products and supplies is highest in May (20%), June (17%) and April (16%).
Study: Scalability across channels critical factor in retail growth
King of Prussia, Pa. — Rigid technology can be a prohibitor in omnichannel growth, especially for mid-market retailers, according to a new study by eBay Enterprise. The report, 2014 Omnichannel Benchmark Study, found that that mid-sized retailers are behind their larger competitors in implementing omnichannel experiences and inflexible technology is the biggest factor in prohibiting retailer maturity and growth.
Other key findings include:
• Large-scale retailers are still new to omnichannel customer engagement, having only invested in it over the last five years.
• Mid-sized retailers face the greatest deficiency in their ability to deliver content to consumers as they research brands and products.
• Rigid technology solutions are the biggest impediment to increasing and improving customer omnichannel experiences.
“As mid-sized retailers continue to compete with their large scale counterparts, their ability to adapt to an omnichannel environment becomes critical for profitability, loyalty and survival,” said Steve Denton, VP of marketing solutions, eBay Enterprise. “The 2014 Omnichannel Benchmark study highlighted a critical gap in the ability of mid-market retailers to provide consumers with relevant experiences that also allow them to research products and consumer behavior across multiple touch points, including in-store, online, mobile, marketplaces, and customer service, significantly impacting their ability to increase brand awareness and demand generation.”
Nordstrom to open at Toronto Eaton Centre
Seattle — Nordstrom plans to open a full-line store in the heart of downtown Toronto, at Toronto Eaton Centre.
Construction of the approximately 213,000-sq.-ft., three-level store is set to begin in March 2014, with the store opening slated for fall 2016. Toronto Eaton Centre is owned and managed by The Cadillac Fairview Corp. Ltd.
We are excited to welcome Nordstrom to Toronto Eaton Centre," said Wayne Barwise, executive VP Development, Cadillac Fairview. "Over the past three years we’ve spent $120 million in enhancements to Toronto Eaton Centre. This second phase of redevelopment will include an additional $400 million. We are delighted to have Nordstrom be part of this exciting venture as we continue to bring a premier urban retail shopping experience to the city."
Nordstrom Toronto Eaton Centre joins the five Canadian stores Nordstrom has previously announced as part of its first expansion into Canada. Nordstrom plans to open additional full-line stores and Nordstrom Rack stores as the company continues to grow in Canada.