Drew Goebel

Recent Posts

Five Ways Retailers Can Get the Most Out of This Holiday Shopping Season

The holiday shopping season is just around the corner and retailers are looking for ways to improve the experience for shoppers and boost sales. One of the resources they look to for trends each year is the PwC holiday outlook report, which was just published for 2019. According to the report, retailers can expect holiday spending to hold steady based on the last five years — 86 percent of consumers are likely to spend the same or more this holiday season than they did in 2018 (an average of $1,284).

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Consumers are Spending More Often with Mobile Wallets

 

A recent study conducted by The University of Illinois found that on average, after adopting mobile wallets, the total transaction amount increased by 2.4 percent and that the total transaction frequency increased by more than 23 percent. What that means is that consumers are buying low-cost items more frequently when they opt for mobile wallets. It’s not surprising since prior research has shown that people spend more when using credit cards as opposed to cash. In fact, contactless payments are predicted to drive global card spend to $45 trillion by 2023.

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Can Retail Break This Magic Spell?

If you’ve seen the Jungle Book, you might remember that scene where Mowgli is under the spell of Kaa - the python. He is rescued and snaps out of the spell before he gets eaten but that scene is significant in understanding the state of retail. Today, the offline retail industry is spellbound and believes it is fighting a battle with their online counterparts that it may eventually lose. But if you ask me, this is just a spell which needs to be broken.

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