National Retail Federation expects shoppers to spend $1 trillion with retailers
Holiday shoppers face financial pressure this year.
The short version
- Retailers expect to pull in $1 trillion.
- Stores must help customers keep traditions alive.
- Smooth operations keep buyers coming back.
The holiday season brings a massive wave of spending, with the National Retail Federation, the trade group for the retail industry, expecting Consumers to drop $1 trillion in stores and online. According to Yahoo Finance, shoppers are feeling financially squeezed and want to keep traditions alive without breaking their budgets.
Nikki Baird, the vice president of strategy and product at Aptos, a retail technology company, said stores must focus entirely on supporting those customer goals. Instead of trying to stand out with bold new gimmicks, retailers need to make shopping simple and fix long lines or empty shelves immediately.
Shep Hyken, a customer experience expert and author, told CX Dive that marketing gets people through the front door, but the actual in-store experience decides if they ever return. Hyken compared store employees to players on a sports team who need steady motivation and strong managers to get through the rush.
Retailers should hold quick pre-opening team meetings and empower managers to buy lunch for workers who miss their breaks during the chaos. When cash-strapped shoppers feel stressed, a smooth trip to the store becomes a welcome relief. For your shop, keeping operations steady and supporting your floor staff now means customers will remember the good experience the next time they need what you sell. Treat your employees just as well as you treat the people walking through your front door.
