Retail Industry Heating up for Summer and Back to School

Strategy Plan One

June 29, 2012

Retail Industry – Summer Period

Like other economic indicators, the retail industry is slowly improving.  It has been estimated that the retail industry will grow in the summer months as food and retail sales increase due to the tourism season.  Retail centered around tourism and travel see marked improvement as many tourism destination packages are developed and offered up to consumers.  Building into the summer retail period, back to school retail sales occur in the summer month, and this year’s consumer trends are interesting.

In terms of consumer behaviour and trends, The National Retail Federation (NRF) –BigInsight have released information on their Independence Day Survey, which highlights 67% or roughly 160 million Americans will be out and partaking in July 4^th celebrations.  Retail is estimated to be up in many categories as consumers buy up patio furniture, grills, and beach merchandise.  From the survey, more than 48 million or 23% will buy patriotic US gear and merchandise.  This is a marked 3% improvement from the previous annual survey.

For those businesses centered around events, like fireworks or parades, the survey data shows estimates that 115 million will attend events, and an additional 35 million will be spectators at parades.

Back to School – Retail Trends for 2012

Summer retail period also includes the “back to school” retail craze.  This year’s survey byNRF suggests that consumers may be a bit more frugal this year, indicating that spending behaviour may be down by 5-6%.  Last year the average person spent $603 on all back to school items including clothing, supplies and electronics.  It is estimated that this year’s average spending may be in the range of $580-590 according to the survey.

E-commerce plays a significant role in back to school retail, as the survey data suggests 31% will conduct comparative shopping online and 17% stated that they will shop more online.  Both figures show increasing trends over last year’s survey data.

Here are the comparative results of a BigInsight Consumer spending survey, illustrating consumer behaviour 2010-2012 with respect to back to school retail.

More responses in this survey show consumers siding with cautious, with very conservative behavioral responses to the survey questions.  Businesses and entrepreneurs should analyze survey data and adjust retail planning accordingly.  For instance, the survey suggests more will be shopping online, the trend of using coupons or find deals is increasing and spending less overall.

More Reading

• EService, Social Media and Customer Service Trends [infographic]
• Digital Marketing – Conversion Opportunities for Business
• Product Mix – Designing Products and Services for the Consumer
• Content Marketing – Targeting Local Markets [infographic]

• Business Issues Faced in the Summer Months

Strategy Plan One

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Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One

Social Media, Mobile and Internet Data by the Minute [infographic]

Strategy Plan One

June 22, 2012 

Social Media, Mobile, Internet Data

It is mind boggling how much data we create and digest through multiple forms of electronic media and devices.  Taking the business perspective on the “data created every minute” information in the infographic from Domo:

• Consumers spend over $272,000 / minute – sites are showing trends in e-commerce fused with social media activities
• Brands receive ~35,000 likes / minute on Facebook – does your business have a presence in social media sites?
• YouTube users upload 48 hours of content / minute – Sites with video lead to more sales
• Mobile increases its user base by 217 every minute – trends are favorable in mobile app and e-commerce through mobile devices
• Facebook users share almost 700,000 pieces of content / minute – as an astute marketer in your business, create valuable content worth sharing

Here are some additional Social Media articles, blogs and infographics:

• Social Media and Online Customer Trends [Infographic]
• Twitter Statistics Showing Exponential Growth [infographic]
• Digital Marketing – Conversion Opportunities for Business
• Social Media Buttons for Targeting Your Business Audience [infographic]
• Social Media Statistics on the Fortune 500 Companies [infographic]
• Social Media Statistics on Pinterest – Traffic and Online Sales Impacts

More on Mobile Market and Mobile Apps:

• Competitive Mobile App Market
• Mobile User Business Challenges [infographic]
• Popular Apps – The Best Apps for Small Business
• How do you like those Apps? App Sales [infographic]

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One

London Olympics – Statistics and Business Opportunities [infographic]

London Olympics – Statistics Show Business Opportunities

At a quick glance at this London Olympics infographic from Timeout.com, you can see the plentiful business opportunities for the period of the games itself and the lead up to hosting the games.  If you have the ability to supply major events, these opportunities may give your business massive global exposure.

Just some of the business opportunities you can see in this infographic:

• Food services and catering (whopping 14 Million meals to be served)
• Audio visual, technical services, broadcast center services
• Information management
• Infrastructure development, construction, landscaping, field maintenance
• Maintenance, cleaning crews, security services
• Sporting goods suppliers, sporting event officials
• Tourism and accommodation booking companies
• Even biological services (relocation of species)

If you are interested in last minute supplier or procurement opportunities, check out the business opportunities on the official page at London Games.

Infographic courtesy: Timeout.com

Other Olympic business links:

• http://www.london2012.com/business-network
• https://www.competefor.com/business/login.jsp

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One

Social Media Statistics - Pinterest Traffic and Online Sales Impacts [infographic]

Strategy Plan One

May 19, 2012 

Social Media Statistics – Pinterest

Here is some proof that Pinterest, the growing social media pinning site, is gaining massive e-commerce momentum.  Check out these statistics illustrated in this infographic from Shopify on Pinterest:

• 3rd most popular social media site
• 145% – daily growth in new users
• 16% gain (over 2011) stores citing revenue from Pinterest
• Over 400% increase in online orders from pins over the last 6 months
• $80 average order through Pinterest

Check out some more interesting social media blogs:

• Business and social media
• Social media marketing and other marketing activities
• Social media Over valuation [infographic]
• Social media valuation factors
• Social media facts, figures, stats

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One

US #Unemployment #Statistics Favorable for April 2012

Strategy Plan One

May 4, 2012 

Unemployment Statistics

The Bureau of Labor Statistics has just released more favorable trends in the unemployment statistics.  The Bureau reported the unemployment rate now sits at 8.1%, a 0.8% drop over the April 2011 unemployment figure.  It was estimated that 115,000 more jobs were added in April 2012.

Courtesy:  The Washington Post , Bureau of Labor Statistics

Unemployment Statistics – Sectors

The increase in jobs follows the trend of job increases month after month through 2011 and 2012.  However, the trend shows declining number of new jobs over the past 3 to 4 months.  This might be a sign of employment catching up with the recent slight bump in economic recovery.  Slow and steady.  It could also be a sign of a shrinking labor pool that may exist in certain US business sectors.

The lowest unemployment statistics for April 2012 occurred in the government, education and health services, and financial sectors (3.7, 4.8, and 5.5% respectively), while the small business and entrepreneurial sectors of construction, agriculture, leisure, and business services show the higher rates of unemployment.  Recent statistics have shown that those sectors might be experiencing slow recovery mode.

Strategy Plan One

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Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One

Working Women – Leading and Armed with Education [Infographic]

Strategy Plan One

May 2, 2012 

Working Women

In this brilliant infographic from OnlineMBA.unc.edu , women are now creating a dynamic shift in making up an equitable share in the workforce and dominating entrepreneur development. According to the research, women now almost make up half of the workforce at 46.9% and leading the highest increase in business development at 1.5 times the national average for business start-ups.

All in the numbers, hers are some other fascinating facts from this infographic:

• 187 Million women are entrepreneurs worldwide
• 7.8 Million – number of businesses owned by women in 2007 (20% increase over 2002)
• 22% – percentage of women on the Board of Directors of S&P 500 companies
• 40.1, 27.3 and 24.5% – the percentage of companies with women Board members in Norway, Sweden and Finland respectively (US at 16.1%)
• 18% of all Patents granted in 2010 were received by women (up 35%)
•  33.3% of MBA recipients are women (highest ever)
• Women now earn more bachelor’s degrees than men (68% more)

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur

Retail Industry Statistics Favorable for March 2012

Strategy Plan One

April 18, 2012 

Retail Industry

The retail industry is potentially on the rebound with some of the most current data out for public consumption.  This is good news for businesses and entrepreneurs around the country who are all desperately looking for signs of recovery.

The latest advance report is out by the US Census Bureau on retail statistics estimates for March 2012.  The report, including the statistics for the combined retail and food industry, cites that the industry total revenue for March 2012 was $411.1 Billion.  This represented an increase of 0.8% over February 2012 and a 6.5% increase over March 2011 figures.

Retail industry sales alone increased by 0.8% from February 2012 and consistent with the 6.5% increase above March 2011 data.  The biggest sector jump in the retail industry occurred in building material and garden retail sector, with a 14.1% increase over March 2011 statistics.

Business owners and the industry will cautiously analyze the next few months to determine if this pattern will continue and if it is solid signs of recovery.

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One