4 retail stats consignment and resale needs to watch
April 10, 2015
Consignment and resale must keep an eye on these shopping trends
I’m not good with statistics. In fact, the word “statistics” alone can cause a flush of nervousness. Sometimes, I have to hush the inner math-challenged me and take a closer look. So, I read The National Retail Federation’s “Spotlight on Modern Retail 2015.” It’s a compilation of statistics on a number of different subjects affecting retail. There are some interesting insights that consignment and resale can glean from the results too. Unfortunately, there was a lot more to it, but I have included only 4…the 4 I could understand.
1.) 44% of consumers regularly research purchases online before going to a store
Being found online is no longer an added feature to your shop. It’s a necessity. Research found “4 out of every 5 consumers look for advice before they make a purchase, and they’re often turning to social media.” You need to have a Facebook page for your shop. Also, make sure you’re listed on sites such as Yelp, Yahoo Local and Merchant Circle. Regularly check shopper’s reviews and reply kindly to the ones who make negative comments
2.) One in five holiday shoppers were influenced by email advertising
That may not seem like a lot at first, but when you think about the size of your email list, that can be the difference between an average holiday shopping season and a phenomenal one. Email is still a strong purchasing influencer. If you can target particular shoppers with offers they are specifically interested in, it makes a huge difference.
3.) Use of coupon websites grew dramatically
The Federation’s research found that the rise in using coupon sites grew from only 1.8% in 2013 to over 6% in 2014 holiday shopping. More than ever before, consumers are looking for a bargain and our industry needs to capitalize on that fact. By promoting “great prices without a coupon” or offering actual coupons on your Facebook page or in emails, you can increase a shopper’s likelihood of buying from you.
4.) Mobile sales grew by 87%
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