2020 Holiday Retail Sales
Facing unprecedented challenges from a spike in the COVID virus, state restrictions on retailers and heightened political and economic uncertainty, consumers demonstrated incredible resilience this holiday season.
- Holiday sales grew 8.3% to $789.4B (4.1% increase in 2019)
- Online sales grew 23.9% to $209B (14.6 increase in 2019)
- Last 2 weeks were key to increase (too late for deliveries) with consumers taking advantage of quick in/out trips, BOPIS and curbside
- Building materials & garden supplies – up 15%
- Sporting goods – up 15.2%
- Grocery & beverage stores – up 9.6%
- Health & personal care – up 5.4%
- Furniture & home furnishings – up 2.2%
- General merchandise – down 0.1%
- Electronics & appliance stores – down 14.4%
- Clothing & clothing accessories – down14.9%
Consumers have forever changed how they shop and the return to “normal” may never happen again.
2021 Retail Trends
- Touch-Free Shopping is the New Norm
- E-Commerce Will Continue to Shape Retail
- Big-Box Stores Rule
- Restaurants Morph to Less-Touch
- Extreme Pressure on Middle Market Retail
- More Startups & Manufacturing Models
- Accelerated Decline of Enclosed Malls
- Zoom-Dressing to Continue
2021 Retail Expansion
To get consumers back into stores, they must provide unquestioned safety and an INCREDIBLE SHOPPING EXPERIENCE.
Consistent with previously mentioned pressure on mid-market retail, below are examples of the retailers looking to expand in 2021. For a more complete list click here.
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