Holiday Shopping Hangover

Published: 1/13/2017

Holiday Shopping Hangover
  
Happy New Year! It’s 2017 and I have the feeling it’s going to be a great year. We made it through the holidays and now it’s back to the “grind”! Recently, there’s been some sad news for some large retailers who will be closing stores. It made me wonder a bit about the state of traditional retail. Many claim that online shopping is taking away from the “brick & mortar” stores, but I’m not certain. Yes, Amazon had their best holiday season ever, shipping more than one billion items to customers. But retail sales, on the whole, were up by almost 5%, with smaller retailers outperforming many department stores. Wonder why? I do!
 
One reason that experts keep pointing to is that customers have changed and retailers haven’t. Customers now want retailers and their products to stand for something and to have an emotional connection. Who was the largest spending group? Well, chill out because it was the “hipsters”. That’s right, the bearded, beanie and flannel wearing group of college-educated millennials spent about $500 more than the average holiday shopper. So, I guess the lesson here is to know who your customer is and how to reach them. I’d like to know how your business fared this holiday season – please drop me a line!
 
The year is off and running! We had a great Let’s Do Lunch at A’Roma Ristorante this week (check our Facebook page for photos) and our annual Labor Law Update is scheduled for 1/26. We have some great events coming in February too – stay tuned!
 
Peace,

Scott

scott

Scott Smith 
Executive Director 

Quote of the Week: 

You must do the things you think you cannot do. Eleanor Roosevelt

 

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