Buzzworthy Insights – US Holiday Retail Sales Expected to Rise

09.20.2021 Blog , Buzzworthy Insights
By BDS Strategy and Analytics

Workplace Vaccine Mandate

The most far reaching of COVID policies will be coming into effect for all private employers with more than 100 employees, impacting nearly 80 million workers, or two-thirds of the US workforce. The ruling is part of the six-part plan from the Biden administration, “Path out of the Pandemic”, taking form as an Emergency Temporary Standard (ETS) being enforced by OHSA, for a period up to six months. This will mandate all private employers of over 100 employees to require vaccination or weekly negative COVID tests from all unvaccinated employees. Employers ignoring the mandate will be fined up to $14,000 per violation. While full details on the entire plan and the ETS release are still unclear, employers can start taking steps to prepare by determining employee vaccination status, determine if they’ll mandate vaccination, and other related issues. Further details can be found through the linked source. (View source)

Store of The Future

Camp’s Flagship NYC Store Going into Space

As retailers continue to find new and innovative ways to bring consumers back into stores, Camp, the family experience retailer, is launching their flagship store into space. The retailer has converted 8,000 sq. ft. of their 10,000 sq. ft. store into a digitally enabled adventure called Cosmic Camp. The experience is ticketed and features an hour long of live performances, interactive games, and skill-based challenges enhanced by AR and projection mapping technology. Upon exit of the experience, the consumers will enter Camp’s expanded “Canteen” featuring close to 1,000 space-themed items including puzzles, games, and crafts. The experience runs from September 6th through October 31st before being rotated into Camp’s other locations, with their flagship store will be converted into a new holiday experience. Camp ensures necessary safety precautions are being taken with regular cleaning and timing of consumers entrance into the experience. (View source)

Supply Chain Concerns Rising Ahead of Holiday Season

With holiday season 2021 on the horizon, supply chain leaders are hopeful for record revenue but wary of supply chain logistics as COVID-19 creates more uncertainties. Global supply chain has been operating at near peak levels since last summer and with the recent shutdowns in China, coupled with driver shortages in Europe, consumers will want to be shopping earlier than ever. In the US, unprecedented increases in wages are seen in almost all industries, with some fast-food companies even offering $15/hr for new workers. If businesses in multiple industries are already offering increased wages, with a new COVID-19 plan to come into effect, and increasing workforce needs, consumers will see longer delivery times and fewer deals this season. Results from GlobalTranz Enterprises’ survey on US Supply Chain leader concerns of the holiday season can be seen below. (View source)

2021 Holiday Season

US Holiday Retail Sales Expected to Rise

As the holiday season approaches, sales through various channels are expected to grow with online spending up 7.6% (excluding automotive and gas), in-store sales rising 6.6%, and total US retail sales expected to grow 7.4%, according to Mastercard SpendingPulse. The strong retail performance, driven by the rise of e-commerce during the pandemic, will see a fitting end with record high increases to spending being recorded, fueled by pent-up savings and government stimulus. “Retailers have been preparing for this moment and will find innovative ways to deliver on what’s bound to be the biggest holiday shopping season yet”, says senior advisor for Mastercard, Steve Sadove. Additional findings of the report can be seen below. (View source)

Consumers Shop with Brands that Understand Them

A majority of consumers (80%) report they are more likely to shop with brands that show they understand them and 78% find it frustrating when marketing messages are inconsistent throughout a companies’ marketing channels, according to a recent survey conducted by Dynata. Among other concerns, currently the greatest be in regard to supply and product issues with 77% concerned about product shortages and 70% worried about global supply chain challenges. In response, consumers have begun shopping earlier and with brands that are more transparent about usage of their data with an overwhelming 85% more likely to shop with brands being transparent about user data usage. In regard to shopping, as of September 1st, 26% of consumers have already begun shopping, 66% are expecting to pay more for gifts, and 37% have adjusted budgets accordingly. Retailers will want to adjust marketing accordingly in order to gain higher revenue during this season. (View source)

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