The holiday season is the most important time of the year for retailers, so it’s important that you stay informed about the latest trends and predictions. Here are a few things we think you should know:
- All about mobile: According to Adobe’s 2014 holiday shopping forecast, mobile retail sales will constitute 31 percent of all online transactions completed on Thanksgiving day, as compared to 21 percent last year.
- Black Friday: Digital sales on Black Friday will reach $2.48 billion, which represents a 28 percent year-over-year increase.
- Digital sales: Mobile devices will account for $1.6 billion of combined sales on Thanksgiving, Black Friday and Cyber Monday. Including desktop sales, those days are expected to generate $6.5 billion.
- Holiday: Thanksgiving online sales are expected to experience record numbers, as more people than ever shop on Thanksgiving day.
- iBeacon: Of those surveyed, 18 percent of businesses plan on using iBeacon marketing to zoom in on potential customers. Next year, experts predict that twice that many will take advantage of the technology.
- Omni-channel sales: According to Under Armour CEO Kevin Plank, brick-and-mortar stores are in no jeopardy of becoming outdated, even as mobile marketing and sales numbers skyrocket. “It’s critical that you have it. People need to go places; they need to see things; they need to touch things,” he said to Businessweek. “But … the idea—or the cliché—of omni-channel retail is a reality. It’s happening. Our mobile business, for instance, is extraordinary. Literally, three years ago it was nonexistent, and now it’s over half of our business.”
- Social networks: Of the 18 to 34-year-olds surveyed, 40 percent will look to social networks to come up with gift ideas.
Don’t forget to update your company’s point of sale and inventory system. An efficient and sophisticated software can make all the difference during the hectic holiday sales rush.