Focusing today’s Express Lane on Black Friday and Cyber Monday. Here’s some articles that I’m reading that I’d like to share:
ComScore estimates e-commerce sales only up 1% on Black Friday. Retail stores only saw a 3% gain, the smallest gain in several years, according to ShopperTrak. The modest sales growth, combined with the deep discounts cutting into profit margins, has already helped send Wall Street into another daily tail spin.
For a further look into the Black Friday numbers, the National Retail Federation released a comprehensive survey into this year’s shopping habits. Seeking Alpha does a great job of digesting and breaking these numbers down.
CNBC has a good look at how Black Friday transpired at one local mall. Good snapshot into the events of this day at one New Jersey mall.
Of course, today is Cyber Monday. Retailers are offering deep discounts and free shipping. Twitter is on fire with people discussing deals and sharing links. Looking forward to seeing the sales figures for today and I wonder what impact social media will have today.
And finally, the industry did have some very tragic events occur on Black Friday when a worker was trampled to death at a Long Island Wal-Mart and two men were killed in a shooting at a California Toys R Us. Very sad and tragic events, indeed.
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Wednesday
November 26, 2008
Couple of stories that I’m reading this morning:
CNBC’s got a great run down on Amazon’s holiday strategy. The online retailer saw a 42% sales growth in Q4 2007 and forecasts 12 – 15% growth this year. Remarkable feat considering consumer spending is forecast to be down this season. The retailer looks to siphon sales from other retailers by offering low prices and “ridiculous deals”.
Shop.org has released more data on expected consumer habits through this Holiday season and especially for this weekend. Bottom line, consumers are using the web to enhance their real world shopping experience. Be prepared.
Just on the heals of reporting very soft e-commerce sales growth in October, Comscore forecasts flat growth in e-commerce sales for this holiday season. They estimate a 4% decline in sales through the first 23 days of the Nov-Dev shopping season.
Earlier today I talked about JCPenney’s use of social media, Twitter, and viral marketing. I missed this press release from the retailer detailing some of the improvements they’ve launched on jcp.com for a better online shopping experience. More product photos, customer reviews, and more online-only promotions. Kohl’s holiday strategy also emphasized a better online experience.
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Thursday
November 13, 2008
Some stories that are on my radar this morning:
McDonald’s is testing no-brand marketing in Japan by opening a store without any of the colors, logos, or branding of their traditional stores. Supported through non-traditional marketing such as hand outs, viral campaigns, and a unique website, the store offers two menu choices and that is it. Intriguing concept and I wonder how long it is until we see that more often in the United States. Jon Sykes also shares his thoughts on this campaign.
Linda at Get Elastic has a very informative post about the benefits of pushing educational content, rather than sales promotions, in e-mail. In Should Retail Email Sell or Inform? An A/B Split Test Case Study, she provides a look into an study into different types of e-mails that were sent out from a retailer and provides concrete information on ROI, conversion rates, and sales results. Summary is, content is king and the e-mails that were focused on educational content and information performed better than the sales oriented e-mails. Good information for all retailers.
Over at CNBC, Cindy Perman writes about the impact the economy is having on second hand and consignment shops. Some intriguing sales numbers from Goodwill and quotes from consignment store owners that reflect the uptick in sales and traffic they are seeing this holiday season. At least someone is seeing positive gains this season.
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Entering the weekend, here’s some things that I’m reading tonight:
Starbucks is pulling Jones Soda out of their stores in order to create room for more salads. Interesting.
Kelly Clarkson has cancelled her summer tour and one Consumerist reader has found out that Ticketmaster’s non-refundable fees are, well, non-refunable.
Margaret Brennan at CNBC is talking about how critical the next few days are going to be for retailers. Get rid of the clothing now or else you’re selling it marked down in July.
Finally, Canadian retailer Futureshop will be opening forums on their website next week. Allowing customers to interact with employees, it will be a very interesting website to watch. Will parent company Best Buy follow suit?
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From Seeking Alpha:
J.C. Penney (JCP), Polo Ralph Lauren (RL) , Kohl’s (KSS), United Technologies (UTX): Cramer declares JCP a “multiyear story” because of Sephora cosmetics and the private label deal with RL, and would give the retailer the benefit of the doubt in spite of its lackluster quarter. Cramer comments JCP and KSS are stores which make customers feel “they’re richer than they are.” He predicts JCP will be up to $85 from $81.50. He added UTX has the earnings power to go to $70 from $66.
(See: Jim Cramers Stop Trading! Stock Picks and Comments, April 18)
Jim Cramer saying that Kohl’s and JCP makes customers feel “they’re richer than they are” might be the most accurate assessment of those two retailers that I have ever seen.
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