The post-holiday haze has lifted, leaving much head scratching and gnashing of teeth about what happened and why. Most agree it was an imperfect retail season. Sales results were reported up 3 percent versus 2011, reflecting a season that was “peak-ed” to say the least. And while final profit margins have yet to be released, they likely won’t bring better news.
So rather than succumb to a post-season, mid-winter funk, we may as well make the best of the 2012 holiday season. Lessons abound, after all.
Forget the calendar – it’s not a crystal ball
It’s time for retailers to stop using the calendar as a predictor. More shopping days between Thanksgiving and Christmas no longer mean more sales. Shoppers were very stressed by the end of 2012, and between the economy, fighting in Congress, Hurricane Sandy and life in general, they had good reason to be. Extra shopping days proved exhausting for many.
Thanksgiving hours don’t guarantee more sales
Opening stores on Thanksgiving Day didn’t necessarily translate to more sales either. It may have provided more people with jobs (good news), and got others off the couch before they ate their third portion of turkey (a good health trend!), but that’s it. And Black Friday isn’t what it used to be – it has become more media event and family entertainment activity than a major indicator or driver of the season’s sales.
Photo credit: Wikipedia
Focus on the merchandise
Retailers that offered innovative, relevant and good-value gifts made the sales (Urban Outfitters is a prime example). If there was nothing exciting to buy shoppers didn’t feel compelled to, or bought gift cards instead (one of the success stories of the season). Today’s shoppers didn’t feel pressured to buy just anything because it was the holidays. And, as 80% of US shoppers still believe “their” recession will last 3+ years (How America Shops® 2012 Megatrends), their focus on value is not over by any means.
Leverage the Internet for all it’s worth
The Internet became the great disrupter of the season, more so than in previous years. It enabled people to start shopping earlier, be better prepared by checking out pricing and deals online whether they planned to shop in stores or digitally). It also made the easily overwhelming season less stressful to manage. The outcome was that the many traditional retailers who smartly and creatively leveraged their bricks and clicks, omni-channel, approach were more successful than those that did not (Macy’s and Nordstrom were good examples).
So, don’t blame a disappointing holiday season on the Fiscal Cliff, Hurricane Sandy or the calendar. Like everything else in retail today, the world of shoppers and shopping has changed, and this was never more evident than in 2012.
