What are the experts, surveys and latest research reports saying about small business and consumer trends? Welcome to our monthly roundup of research small businesses can use to do business better.
All businesses can attest to the fact that seasonality—including time of year, week or day—can affect your bottom line. Those that know what to expect can get the clarity they need to chart a smart course through the latest seasonality trends and changes. Here are a few pieces of research to get you thinking about how to plan for the second half of 2017.
Back to school loses steam
- Back-to-school shopping gives retailers less of an end-of-summer boost than it used to. Almost 40 percent of parents stock up on school supplies throughout the year, while 58 percent will start shopping before the month of August. Those that do, however, will be a boon to retailers, spending 26 percent more than last-minute shoppers. Deloitte 2015 Back-to-School Survey
Thanksgiving weekend remains king
- Thanksgiving weekend continues to be the kickoff to the holiday shopping season, with more than 154 million consumers making a purchase during the four-day weekend. National Retail Federation and Prosper Insights & Analytics
- Black Friday deals lured less than 15 percent of shoppers to the stores by 6 a.m. or earlier, but almost a third hit up retailers after 10 a.m, which is an increase of 5 percent from the previous year. National Retail Federation and Prosper Insights & Analytics
- Eight in 10 Millennials shopped over the Thanksgiving weekend, buying things for themselves in addition to gifts for their loved ones. National Retail Federation and Prosper Insights & Analytics
Baby, it’s cold outside
- When the mercury drops, shoppers want to stay indoors. Almost 16 percent say they shop less in store during the winter, but more than a quarter shop online more. Retailers would do well to consider creating an online presence that can sync with their in-store inventory. Fluent
- Unusual weather can have a huge effect on apparel retail sales. When the temperature is warmer than expected in April, sales increase; when it’s lower than anticipated in September and October, sales decrease. International Textile and Apparel Association Annual Conference Proceedings
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Hello new year, goodbye store
- Of the merchants that go out of business, almost half shutter their doors sign during the first quarter of the year. International Council of Shopping Centers
Optimize the timing of your communications
- Want to improve the open rates of your marketing emails? Open rates are the highest on Saturdays. Tuesday is also a good day to send an email to your customers. Propeller CRM
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