If there is one time of year to deliver a standout retail performance, it’s the holidays. The most diligent of retailers begin their holiday planning months, if not a full year, in advance. Despite this, no amount of early planning can replace the importance of monitoring the competition throughout the first weeks of the year’s largest selling season.
Overall holiday predictions are looking up for the retail industry thanks to a 5.7% year-over-year increase in projected customer spending. Yet, as price continues to influence where 80% of shoppers make their purchases, retailers must often make hard decisions to stay ahead of the curve and close the year with favorable margins. Especially among large brands, customer expectations for lower prices and faster shipping have heightened the competition.
