Black Friday Boom? Canadian Retail Trends

It used to be the norm to hear about Black Friday and associate it exclusively with the U.S. However, this trend has changed recently and Canadians are taking to stores during this busy season and seriously altering typical Canadian retail trends.

 

Check out this recent article from the Toronto Star: http://ow.ly/DwDNG. According to the article, November is the new December in Canadian retail: “Over the last couple years, Canadian retailers have been offering more and more late November discounts in an effort to reduce the flow of Canadians’ spending money south of the border on Black Friday sales that traditionally kick off the U.S. holiday spending season. While many Canadians are still attracted to the Black Friday spectacle, similar discounting at Canadian retailers has proven extremely popular.”

Additionally, Canadian retail trends have seen November sales grow from 8.2% of full-year sales a decade ago to 8.7% for 2013. And even though December remains the most important month sales-wise, this importance is declining: December accounted for 9.3 percent of annual sales in 2013 compared to more than 10 percent a decade ago.

So what does this mean for you? Well, most importantly, are you taking advantage of Black Friday as a way to increase sales and ramp up customer loyalty? If you are not, you should be. But you can’t just offer discounts and hope for the best. Things like sufficient people support to ensure high levels of customer service as well as highly attractive and attention-grabbing merchandising are considerations to take seriously.

For more about Canadian retail trends and how to take advantage of what is going on in the Canadian marketspace please contact Storesupport today by calling 905.847.6513.

What’s Happening Right Now? Retail Trends to Watch

We are well into 2014 now and hopefully your retail merchandising tactics are going ahead without a hitch. That being said, it is never a bad idea to keep an eye on the emerging retail trends and revamping your plans to suit them.  With that in mind, we thought we’d rehash some of the ones we have found to be the most inspiring and fruitful for the coming months!

1.      Personalization. What’s old is new again, and recognizing your brand targets and building connections has become more critical than ever. Shoppers don’t want to just be another number on your visitor list – they want to feel catered to, and personalization is the way to do this. A great way to achieve this is through the emotional connections made through your merchandising. Sensory technology is great in this regard, and can show customers that you are truly listening to their wants and needs.

2.      Content-rich experiences. A one-dimensional shopping experience has become a thing of the past, and in order to compete (especially with the rise of online/mobile shopping) creating a high level of engagement can be highly effectual. Consumers want to be entertained, but they also want to be informed – this can mean major gains when it comes to ROI.

3.      Social Buzz. The importance of social media has become well known over the last few years, as has the impact of ignoring this growing trend. Giving consumers the chance to both voice concerns and endorse your business means opportunities to grow and build brand loyalty and recognition. Maintaining a strong hold on your social media continues to be crucial.

4.      Resizing. Another growing trend this year seems to be “rightsizing,” which means tailoring your stores to the ideal size and number of locations that is right.  This has changed largely as a result of the growth of online/mobile shopping.  If this is a trend you are considering, keep in mind that it needs to be done properly – keeping customers satisfied and maintaining a high level of customer service is paramount when it comes to staying competitive.

5.      Reinvented Loyalty Programs. Shoppers require more incentive than ever when it comes to making a purchase, and loyalty programs can go a long way in achieving this. Take a look at your loyalty program (if you have one), and think about ways of improving it.

Staying up to date with the most recent changes in the retail world is really the only way that you can compete. For more about the latest and greatest retail trends for this year, as well as advice on how to implement them most effectively, Storesupport can help. Contact us today by calling 1-877-421-5081.

RetailWire – What Generational Differences Mean for Your Merchandising

It is no surprise today to find that generation gaps are highly influential when it comes to your merchandising. Individuals in different demographic sectors want different things. Their expectations when it comes to not only the products they purchase but their overall experiences vary greatly, and as such require different marketing methods.

A recent release from RetailWire got us thinking about generational differences and what they mean for your merchandising, so we thought we’d share it. The article, “Gen X Wants the Steak, Gen Y Wants the Sizzle Too,” looks at a recent study done by GfK. This Brand Benchmark survey found that “Generations X and Y are attracted to functionality, the Gen Yers place more value on brand image.”

According to GfK, brand image has a lot to do with perception – is the brand trustworthy? Does the brand understand consumer needs? Are they reliable and committed? These are what influence Gen Yers the most. Quality and visibility also factor in here.

For Gen X and Gen Y shoppers, functionality reigns supreme. This means whether or not the product does what they need it to do, perhaps without the added buzz, is the Gen Yers are looking for.

So what? Why does this matter? Well, when it comes to your merchandising these generational differences should play a major role. For more information, check out the full article here: http://www.retailwire.com/discussion/17195/gen-x-wants-the-steak-gen-y-wants-the-sizzle-too

For more about how to make sure that your merchandising addresses these differences please contact Storesupport today by calling 1-877-421-5081, or visit us online at www.storesupport.ca.