Monthly Newsletter | NOV. - DEC. 2017 | Eighteenth Issue
S-CUBE Fixtures What's In Store this month

Table of Contents

S-CUBE Donates to Make a Difference
NRF Forecasts Holiday Sales
Make it Experiential!
Personalization Drives Spending

 

S-CUBE Donates to Make a Difference
S-CUBE teamed up with Simpson Academy Students and Designs 4 Dignity.



 

As part of an ongoing philanthropic initiative, S-CUBE has partnered with Designs for Dignity to benefit Chicago-based Simpson Academy.

With S-CUBE’s donation of display shelving and tables, Designs for Dignity, an organization that renovates and modernizes not-for-profit facilities, was able to create a space for the Academy’s young mothers to shop for their children.

“We are always looking for creative ways to serve our community,” said Eric Weinstein, Principal, S-CUBE.

“What better way to do so than partnering with Designs for Dignity to help create a first-class store for these women who are focused on getting an education and providing for their children.”

The tables and fixtures donated by S-CUBE will be utilized to organize a space in the school where the students can shop for toys and other childcare like items for their children.

 

Designs for Dignity is a not for profit that works with Chicago's design community to provide pro-bono expertise and resources to other nonprofits in order to help them better serve their clientele.

Simpson Academy for Young Women is a small, 6th-to-12th grade school that exclusively serves young mothers. Their mission is to empower young women to be great mothers, great scholars, and great citizens by providing comprehensive support while simultaneously preparing students for success.

 

  GlobalShop 2018 - March 27-29 @ McCormick Place - Chicago, IL


GlobalShop 2018 - March 27-29 @ McCormick Place - Chicago, IL

 
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NRF Forecasts Holiday Sales up by 4%
The National Retail Federation (NRF) expects holiday slaes in Nov. & Dec. to increase.



 

The National Retail Federation announced that it expects holiday retail sales in November and December (excluding automobiles, gasoline and restaurants) to increase between 3.6 and 4 percent from last year.

“Our forecast reflects the very realistic steady momentum of the economy and overall strength of the industry,” NRF President and CEO Matthew Shay said. “Although this year hasn’t been perfect, especially with the recent devastating hurricanes, we believe that a longer shopping season and strong consumer confidence will deliver retailers a strong holiday season.”

"Although this year hasn’t been perfect, especially with the recent devastating hurricanes, we believe that a longer shopping season and strong consumer confidence will deliver retailers a strong holiday season."
Matthew Shay (NRF President and CEO)

Christmas falls 32 days after Thanksgiving this year, one day more than last year, and is on a Monday instead of Sunday, giving consumers an extra weekend day to complete their shopping.

This year’s forecast would meet or exceed last year’s growth of 3.6% and the five-year average of 3.5%.

“Consumers continue to do the heavy lifting in supporting our economy, and all the fundamentals are aligned for them to continue doing so during the holidays,” NRF Chief Economist Jack Kleinhenz said. “The combination of job creation, improved wages, tame inflation and an increase in net worth all provide the capacity and the confidence to spend.”

NRF’s forecast is based on an economic model using several indicators including consumer credit, disposable personal income and previous monthly retail sales. The overall number includes the non-store category (direct-to-consumer, kiosks and online sales). For historic sales information visit NRF’s Holiday Headquarters and the Retail Insight Center.

NRF Forecasts Seasonal Employment to Grow Between 500,000 and 550,000. With retail employment already up recently, retailers are seeing less of a need to hire seasonal workers for the holidays this year. As part of its forecast, NRF expects retailers to hire between 500,000 and 550,000 temporary workers this holiday season, down from last year’s 575,000.

NRF to Modify Thanksgiving Weekend Reporting
To more accurately capture the entirety of spending on Thanksgiving weekend, NRF this year will release spending data on November 28, the day after Cyber Monday. Doing so will allow NRF to provide a more accurate picture of consumer activity over the entire weekend and incorporate Cyber Monday data into the results.

 

 

Historical Holiday Sales graph

 
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Make it Experiential!
Creating an "experience" for the customer is key.



 

Lets face it, shoppers no longer need to physically “go” shopping; everything is available on-line.

And so, retailers must do more then just provide goods to purchase.

They need to provide a social experience to entice shoppers out of their homes, find ways to win them over, and build brand loyalty.

Using retailtainment, technology, and services in integration with the physical look and feel of the store space is vital.

To learn more, download our newest White Paper Experiential Retailing

 

 

Holiday Email

 

 
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Personalization Drives Spending
A study by Segment, a customer data platform, "The 2017 State of Personalization Report"



 

Consumer expectations are at an all-time high. To gain loyalty and capture revenue, brands must act quickly to engage these shoppers. Yet, 71% of customers expressed some level of frustration when their shopping experience is impersonal. Worse, only 22% of consumers find their retail shopping experience to be highly personalized.

The proliferation of new devices and the rapidly evolving technology landscape is increasing customers personalization expectations. However, these factors are also contributing to a “personalization gap,” one that brands are struggling to meet. After identifying themselves to a brand, for example, 54% of people expect to receive a personalized discount within 24 hours, and 32% expect a discount after just one hour.

Retailers that do engage with these shoppers are sure to benefit, as 63% said receiving a discount within an hour of interacting with a brand will drive loyalty. Meanwhile, 45% said a discount is the most compelling incentive to add another item to their cart.

“Shoppers expect brands to remember who they are, whether they’re on a digital channel or in-store. However, very few companies can actually deliver on these tailored experiences,” says Peter Reinhardt, CEO and co-founder at Segment. “This is a profound data and technology problem that needs to be solved. The brands who get this right will reap the rewards, as personalization and the customer experience will be the key differentiators for brands in the near future.”

For example, nearly half of shoppers surveyed (49%) have purchased a product they did not intend to buy after receiving a personalized recommendation from a brand. And 40% consumers said they have purchased something more expensive than planned because their experience was personalized.

Meanwhile, 23% have spent more than $50 on a single impulse purchase, with 7% spending more than $100. Notably, 85% of impulse buyers were happy with their purchase, and just 5% returned it.

The most expensive impulse buying still happens in a brick-and-mortar store (22%).

Despite the fact that consumers are willing to spend more money on unplanned purchases in brick-and-mortar stores than through any other channel, consumers (24%) also said store engagement needs the most improvement. Currently, 17% of consumers think that retailers are customizing the in-store experience.

Meanwhile, 41% of consumers said they expect representatives in a brand’s physical store to know what they have purchased online, yet only 19% have experienced this.

Regardless of the channel, retailers that provide tailored, personalized shopping experiences will gain happy, loyal customers. After a personalized experience:

• 44% of consumers will likely become repeat buyers.
• 39% will be likely to tell friends or family.
• 32% will be like to leave a positive review.
• 22% will be likely to post a positive comment on social media.

 

 

'In Real Life'

 

 
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