November’s better-than-expected retail sales underscored resilient consumer demand, though department stores struggled, seeing a 2.5% drop in activity. ICSC CEO Tom McGee joined Yahoo Finance’s Rachelle Akuffo to discuss the “”halo effect”” brick-and-mortar stores can have on e-commerce.
McGee highlights data showing that opening a physical store can lift a retailer’s digital sales by nearly 7%. However, shuttering physical locations can cause online sales in the trade area surrounding that location to fall 11.5% on average. While younger consumers have technology “”integrated into their life,”” McGee notes their preference trends align very closely with baby boomers when it comes to enjoying the in-store experience.
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Pretty counterintuitive. I would delve deeper into their methodology and categorizing of their analysis.
Captain obvious. I’m sure you’re the smartest in the room and they didn’t realize that finding was counterintuitive.
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People aren’t spending as much
Brand Name and Delivery Point.
People like having the option to buy both in-store and online