What Can a Holiday do for Retailers?
While many people have Labor Day off, it is rare for retailers to follow suit. However, according to research by Womply, consumers are not spending their Monday off in retail stores. Industry sales were down anywhere from 15 to 82 percent in 2017.
This does not apply to the rest of the weekend, though. In preparation for the big day, retailers across several sectors ran end-of-summer sales to produce a bump and clear out seasonal offerings. Most notably, sales of alcohol and meat were among the sectors that saw the biggest surge in 2017 and the hospitality industry saw a noticeable spike in restaurants, hotels and travel services.
Every holiday reveals different consumer trends but it is a safe bet that most industries can count on these dates on the calendar as one that will provide a boost.
Easter is increasingly becoming a major shopping day, with people tending to head out after the big Easter dinner at home. That means a great deal of grocery shopping that weekend, with much of the retail shopping waiting until Easter Day. However, there are still those who shop for a new dress or suit for Easter Sunday services, and retailers work hard to lure customers in with Easter discounts.
Valentine’s Day, for example, is a day when people are much more likely to eat out, make purchases in luxury jewelers and perhaps spend money on new high-end clothing. Overall spending on the holiday has approached $20 billion per year in the United States over the last 10 years.
An increasing move to e-commerce is also playing a role, with retailers running pre-sales and attracting awareness before holidays come.
Shopping patterns are going to vary from holiday to holiday. The more family-focused the holiday, the less likely people are going to go out to eat, though increasingly retailers are luring people out in the afternoons and evenings. On a day like Labor Day, food is still at the forefront with grilling products and meats leading the way.