The National Retail Federation (NRF) is expecting good things from holiday sales this year, reporting that the U.S. economy is continuing to grow and consumer spending is the primary engine behind the growth. The NRF expects spending in November and December to increase by 3.8 – 4.2 percent year over year, taking total sales to between $727.9 billion and $730.7 billion.
Coresight Research also estimates a 4 percent growth for November and December. The impacts and fears from the trade war are still unknown, as some products have already seen an increase in prices, but consumers still seem confident in the economy thus far. Only time will tell the real impact of tariffs on holiday spending.
Aside from holiday spending, an Oracle study of more than 15,000 consumers found that despite the rhetoric around shopper traffic slowing, in-person is still the preferred way to shop. 75 percent of respondents noted that they will shop in person and bring purchases home, compared to 55 percent who said they will shop online and have the items shipped to their home. For many, in-store is still the most direct way to ensure that ‘must-have’ gifts will be in hand during that critical holiday moment.
Flea markets are an easy way to encourage customers to shop from your booth not only for cheaper prices, but also because you have a leg up on creating a personalized experience for them. Consumers have the ability to stop, touch, smell and see everything you have to offer, something that can’t be done through online shopping.
Now that you have some confidence with this coming holiday shopping season, it’s time to start making some money. The Merchandiser has a list of some hot-selling holiday gifts and merchandise that are sure to fly off your tables. Happy holidays and happy selling!