Between November and December 2011, U.S. retail sales generated $469.1 billion in revenue, a 3.8% increase from 2010. According to the National Retail Association, holiday sales account for 19.4% of all retail sales. In light of these staggering figures, it is important that WorkingPerson.com takes sufficient time to plan for this retail season. Holiday sales are on the upswing and can account for 20-40% of an independent retailer’s sales. An estimated 40% of Americans begin this shopping behavior after Halloween.
Planning for this holiday shopping season requires WP.com defining the core customer types. They have been broken into four categories so that we can plan for excellent product delivery, pricing, promotions, and returns.
The first and most widely recognized holiday shoppers are known as the Bargain Hunters. These consumers are driven by price and are in search of the best deal available. While some have already begun shopping, bargain hunters have trained themselves to postpone it until annual events, such as Black Friday, arrive. They believe that by waiting for sales post-Thanksgiving and post-Christmas, they will find the best deals, and rightfully so due to advertising campaigns. At WorkingPerson.com, great discounts are offered on many of our products, including outerwear, something that is always a great gift for the holidays.
At WorkingPerson.com, we are especially cognizant of day-after sales and making sure to have enough product stocked. Our workwear section is full of discounts. Checking for buying trends and current products is also a key, as well as price comparing with similar companies to win business. We want our customers to have the best bargains around.
The second type of shoppers are similar to the first in the sense that they are on the prowl for a bargain. These consumers are known as Door Busters. On Black Friday, these customers in search of a deal are encouraged to take advantage of door buster and limited-time offers by shopping at midnight. A poll taken by the National Retail Federation showed a jump from 15% to 24% of all shoppers on Black Friday who opted to shop at midnight. This is because more retailers are finding it to their advantage to get traffic at 12 A.M. as opposed to 4 A.M. In addition, 37% of these midnight Door Busters are between the ages of 18 and 34.
The third holiday buying group has shoppers known as the Returners. These are consumers once enchanted by holiday bargains who merrily bought more than was necessary. Perhaps they stocked up on marked down tablet computers, reduced clothing items, or holiday novelties early in the season. Soon after, though, many had regrets on their purchases and decided to return goods they had previously thought were great deals.
Elizabeth Yamada, 55, of Fort Lee, N.J., admits to being a returner lured by a 50% price reduction. She returned an coat that cost $175 saying, “It was nice… (but) it was impulsive shopping.”
This is occurring more often; according to NRF, for every dollar stores take in this holiday season, it is projected that they will have to give back 9.9 cents in returns, up .1 cent. The reason is listed as the economic recession. In more stable conditions, the rate is only 7 cents on the dollar. Because the number of deals has increased as early as October, stores gave shoppers more time to feel buyer’s remorse.
Buying workwear from WorkingPerson.com is something that won’t give that remorse. Our products are long-lasting and will keep you content for a long time. But if your Uncle Bernie doesn’t like something, we understand. That’s why we offer our customers free return on product exchanges.
The fourth and last type of holiday consumers are known as the “Me” shoppers. These spenders held off during the recession and became more focused on buying for themselves rather than others. An NRF study shows that spending for self will increase 16% this holiday season to $130.43 per person, the highest number yet recorded.
Betty Thomas from Raleigh, N.C., confesses she spent $1,700 on herself because she felt she “earned it.”
Companies have promoted this indulgence with various ad campaigns, including Ann Taylor’s “One for you. One for her” slogan and another that had a “Treat Yourself Tuesday” campaign after Thanksgiving weekend. These promotions for the self-focused have brought more consumers to stores around the holidays than ever before.
Working Person’s Store understands that as a hard worker, the opportunities for spending on self may be few and far between. With all the great discounts we offer around the holidays, you are sure to find a little extra something for yourself, whether it’s a pair of new Wolverine work boots or a comfortable Dickies work shirt from our Workwear page.
No matter what type of shopper you are, Working Person’s Store has something for you and yours around the holidays.