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BizReport : Ecommerce : October 03, 2017


Deloitte: Marketers should see significant holiday increases

Merchants and marketers will likely be happy with the upcoming holiday season. According to Deloitte's holiday forecast, sales should increase about 4% overall, with ecommerce sales increasing up to 21%.

by Kristina Knight

The ecommerce part of the equation, especially, holds promise for online merchants and other marketers, as the overall holiday spend is expected to reach at least $1 trillion between November and January. The ecommerce part of that equation could reach up to $114 billion.

"The projected uptick in holiday sales ties to four primary factors affecting consumer spending, starting with anticipated strong personal income growth," said Daniel Bachman, Deloitte's senior U.S. economist. "Last year, disposable personal income grew 2 percent over the year to the holiday period, and we may see that rise to a range of 3.8 to 4.2 percent this season. Consumer confidence remains elevated, the labor market is strong and the personal savings rate should remain stable at its current low level."

"Sentiment and spending indicators are firing on all cylinders, but the question is: How will retailers respond given the profound disruption across the industry?" said Rod Sides, vice chairman, Deloitte LLP and U.S. retail and distribution sector leader. "The good news is retail is thriving, and it is the proliferation of new, niche retailers that is resulting in share constantly changing hands. Consumers have unlimited alternatives and often bounce between brands, touchpoints and influencers, making it more difficult for retailers to attract shoppers without some level of customization. These disruptive factors are likely to combine to create a highly competitive and promotional holiday season. Retailers should modify their assumptions about what drives traffic, engagement and holiday sales growth, and realign around customer experience, creating relevant, emotional and inspirational connections that go beyond just product, price and assortment."

The full holiday forecast can be found here.

Tags: 2017 holiday forecast, Deloitte, ecommerce, ecommerce forecast










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