While much has been written about brick-and-mortar retailers’ continuing fight for market share with online competitors, data on continually evolving consumer preferences also demonstrates a desire by many to combine both shopping experiences. Enter: click and collect.
Home Depot announced that its same-store sales in the U.S. increased 3.8 percent in the third quarter, below Wall Street’s expectation of a 5.4 percent gain. The home improvement chain now expects annual comp sales growth of 3.5 percent, down from its previous guidance of four percent.
TJX Cos. announced that its same-store sales rose four percent in the third quarter, above the 2.3 percent consensus gain expected by analysts. The retailer raised its annual forecast on the strength of its third-quarter performance and expectations for the holidays. “The fourth quarter is off to a solid start and we have many initiatives…
Kohl’s reported a 0.4 percent increase in same-store sales during the third quarter, its first gain after two quarters of declines. The retailer’s earnings of 78 cents a share were well below the 86 cents forecast by analysts.
Roughly 70 percent of adults in the U.S. are feeling stressed about debt heading into the holidays. That may be because these same adults would need nearly $59,000 to get themselves out of debt. That said, Americans plan to spend an average of $1,679 on gifts this year, putting much of that on credit cards.
A growing number of retailers, including Walmart, are offering customers the option of paying off purchases in installments.
The combination of smartphones and mobile wallets makes purchasing really easy — perhaps too easy. “Much of the innovation that’s going on now, whether it’s contactless credit cards or apps or personal loans, is to separate folks from their money more easily and more quickly,” said Matt Schulz, chief industry analyst at CompareCards.com.
Warby Parker, which has grown its business providing prescription eyeglasses at substantially lower prices than those sold through the major eyewear chains, has launched Scout, its own line of contact lenses. The retailer estimates that 40 percent of its current customers wear both eyeglasses and contact lenses.
Snapchat is seeing growth in its user base and much of that growth is coming from Baby Boomers. The number of users between the ages of 55 and 64 is forecast to grow 13 percent this year, according to eMarketer, making the demographic the fastest-growing segment on the social site.
The US, UK and Australian markets are at different stages of the pay-at-the-pump roll out. Download this new infographic from TNS which looks at the results of an independent survey, commissioned by TNS, into how consumers preferences at the pump differ and provides vital insights into what consumers want.