Positive Signs for the Retail Market as Holiday Season Kicks Off

| Dec 1, 2019 | Business Formation & Planning |

The holiday season is upon us and for retailers that means the busiest and most important time of year. How things go over the next month could in some cases determine whether or not the year can be considered a successful one. As the season kicks off, it appears there are positive trends for at least some retailers.

The evolution (and concern) for retailers comes, of course, from the way technology has changed consumer tastes and needs and thus the way retailers have to respond to these changes. This can be seen in the types of jobs available, comparing the fewer retail workers such as luggage salesmen to robots scanning store aisles for items to restock. The attempts to adapt have been met with mixed results so far.

On one hand there is Target which is seeing sustained sales and stock growth, and has some looking to the company for lessons for retailers. While on the other hand, there are companies like Payless, which joined many other retailers in filing for bankruptcy this year.

But with this holiday season kicking off, there are positive signs. Black Friday saw records numbers in sales; however, this came primarily online as in store sales decreased from a year ago. From there, Cyber Monday looks to buildon this and set records of its own. All those emails we’re all getting seem to be having an effect.

With most of December ahead, the signs are positive that consumer dollars are out there to be had for retailers. What’s clear, however, is that the retailers that will best be able to take advantage of this are the ones most adapting to the ever-changing market by giving customers the convenience they desire, largely through online sales.

With ample opportunities for growth out there, it’s important for all businesses to keep not lose sight of the legal issues that come with growth, including laws that phase in as the number of employees grow. Doing this with an experience legal team will ensure a much smoother path forward for businesses needing to change.