For many local business owners, the holiday season really is as the song claims, “the most wonderful time of the year”. However, each year we hear more about the impending rise of online shopping, and are left wondering what impact it will have on brick-and-mortar’s bottom line. But for all the gloom-and-doom projections about the dominance of ecommerce giants, like Amazon, 85% of holiday revenue came from in-store sales last year (amounting to about $532M).
In the quest for increasingly creative and unique gifts, we’re seeing consumer focus shift from traditional retail mainstays (e.g. apparel, accessories, electronics) to experiences. These activities are making the wish list more and more, opening up entire industries to great potential success throughout the season. We created the following infographic, to help us make sense of these changing holiday trends and to ensure that businesses across various industries can create a plan that allows them to get as much as possible out of these last remaining weeks.