MarketScale Retail 01/07/19: A Good 2018 and a Bright 2019

 

The future of retail is bright, according to industry analysts Stephanie Sullivan and Tony D’Onofrio. Both agree that the economy is driving the retail boom, especially the fantastic holiday sales. However, innovation is also acting as a major disruptor. What this means for the retail industry as a whole, as well as specific sectors within the industry, are investigated in these two fascinating interviews.

Confessions of a Black Friday Shopper

The world doorbuster brings a smile to Stephenie Sullivan’s face as she remembers lining up on Friday morning with her family to get a great deal. Nowadays, Stephenie is an Arkansas retail analyst, professional development consultant, and frequent Marketscale Retail guest who recently shared her insight on this year’s holiday sales results.

“This was an outstanding year in holiday retail sales, the best in years,” Stephenie says, citing a 5.1 percent increase in overall sales over 2017. “This goes hand in hand with a good economy, a low employment rate, and people with money in their pockets, feeling confident in their spending.”

Millennials & Cashier-less Stores: Trends for 2019

Tony D’Onofrio, CEO of TD Insights, says that retail had a very good year in 2018, especially during the holiday season. He says the department stores struggled through the holiday season, but the rest of retail did extremely well. “2019 will be the year 73 million Millennials will overtake the 72 million Baby Boomers, which was the largest generation,” D’Onofrio says. “and I think that’s a major opportunity for retailers going forward.”

D’Onofrio says that Millennials want experiences more personalized and brands that understand their unique needs, and brands that take advantage of that will succeed. He also says that connectivity with smart phones is going to be more important going forward, especially connecting them to physical stores to create unique personal experiences and even eliminating cashiers. Overall, D’Onofrio is bullish about the future of retail, both because of the booming economy and because of the disruptive innovations already working their creative destruction magic.

For the latest news, videos, and podcasts in the Retail Industry, be sure to subscribe to our industry publication.

Follow us on social media for the latest updates in B2B!

Twitter – @RetailMKSL
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Image

Latest

One-of-a-kind shopping experiences
The Resurgence of Brick-and-Mortar Stores: One-of-a-kind Shopping Experiences Are Turning Customers into Brand Ambassadors
April 24, 2024

In the convenient world of e-commerce, big box stores are seeing a resurgence. Chains like Dick’s Sporting Goods, Walmart, and Target are experimenting with one-of-a-kind shopping experiences that can turn casual shoppers into loyal fans. In a recent Experts Talk roundtable, Allen Adamson, Co-Founder at Metaforce, highlighted how one-of-a-kind shopping experiences make for exciting […]

Read More
digital augmentations
Revolutionize Customer Engagement Through Digital Augmentations in Physical Retail
April 24, 2024

The digital transformation of retail experiences in physical stores has become crucial as big-box retailers strive to maintain their relevance and competitive edge in a digital era. These retailers are embedding interactive features and digital augmentations in their physical locations to offer unique, engaging customer experiences. This approach merges the tactile allure of in-store […]

Read More
experiences
Enthusiastic and Trained Employees can Enhance Experiences and Drive Success in Physical Retail
April 24, 2024

In today’s retail landscape, big-box retailers are emphasizing the importance of their physical locations, even as the digital marketplace continues to expand. Stores like Dick’s Sporting Goods and Walmart are not just maintaining their brick-and-mortar presence but are actively enhancing it with features like interactive elements and new store openings. This reassertion of the […]

Read More
The Coexistence of Big Box and Small Retail Relies on Synergistic Relationships
April 24, 2024

Despite being long time competitors, big box retailers and small local businesses can both coexist in ways that benefit the other. Of course, both retail formats are different but by maintaining their core business models, the two can bank and leverage their strengths and still be open to synergistic relationships. During an episode of […]

Read More