Retailers are hoping colder weather and the approach of the holiday will help boost sales.
Retail sales showed a steep drop last week revealing that retailers' efforts to draw shoppers into stores prior to Thanksgiving is not making them extend their shopping and spending over a longer period — it's just getting them to shop sooner.The Retail Economist-Goldman Sachs Weekly Chain Store Sales Index plunged 6.1 percent for the week ended Dec. 3 "as consumers took a breather from the Black Friday shopping," said Michael Niemira, chief economist of The Retail Economist LLC, in his weekly report.On a year-over-year basis, sales showed a 1.8 percent gain."As retailers increasingly try to pull holiday sales forward earlier into November and entice consumers with promotions during the Thanksgiving Day week — including Thanksgiving Day — the post-Thanksgiving week has seen a sharp fall-off sequentially with Thanksgiving week, even adjusting for seasonal patterns," Niemira said."With both Christmas and Hanukkah falling on the same day this year, holiday gift purchases are likely to get an extra boost just ahead of Dec. 25 this year," he added.Despite the decline, online traffic for this past weekend was strong. In a separate report from Verizon Enterprise Solutions, the firm's Holiday Retail Index for the Dec. 3-4 weekend showed a year-over-year e-commerce traffic gain of 4 percent on Saturday and 10 percent on Sunday. Verizon said the increases reinforce "the significance for getting promotions right when consumers turn their attention to holiday shopping."Michele Dupré, group vice president for retail, distribution and hospitality with Verizon Enterprise Solutions, said the "healthy spike in weekend traffic demonstrates the importance of getting promotions right when consumers are focused on ticking items off their holiday shopping lists."“With special offers now a holiday season norm, the challenge is in spreading promotions out to keep consumers interested and coming back," she added. "It’s early in the season — with Christmas and Hanukkah three weeks out — and there’s plenty of selling still to be done.”In a weekly analysis of the department store segment, analysts at Telsey Advisory Group said in that "terms of holiday shopping, we believe the extended cyber sales drove an increase in online orders. We expect promotions to temper over the next two weeks and to once again pick up the last 10 days before Christmas as consumers shop last-minute gifts."
@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)
@badgalriri’s @fentybeauty launch in September was a massive success on social media, powering $72.9 million of earned media value, according to Tribe Dynamics. The brand’s foundation offering sparked conversations about diversity in beauty, launching the growth of emerging influencers and propelling the brand’s support on social media. Today, #fentybeauty won Launch of the Year at the WWD #BeautyIncAwards. (📷: Chema Moya/EPE-EFE)
@marianna_hewitt has become one of the most influential content creators in the beauty space, with almost 800,000 Instagram followers and a newly launched skin care line called @SummerFridays. Today, she was awarded Influencer of the Year at the WWD #BeautyIncAwards. (📸: @sophiachabbott )
As shopping behaviors evolve, the retail experience must follow. Head over to retail experts @colliersinternational’s Knowledge Leader series to read more about the shift in our shopping era. #colliersretail #lovecolliers
@prada opened a pop-up club, called Prada Double Club, in collaboration with German artist Cartsen Höller at @artbasel Miami. Last night, guests – including @youngparis, @ritaora and even Miuccia Prada herself – gathered in a former ice factory where the pop-up is housed for a performance from @wyclefjean. Go to WWD.com for full coverage on all the exhibits, parties and more at #ArtBaselMiami. #wwdeye (📷: @lexieblacklock)
@louboutinworld and @disney are making magic once again, creating a set of shoe designs for the release of “Star Wars: The Last Jedi.” Louboutin designed a pair of shoes for each of the film’s four female leads: Rey (@daisyridrey), Vice Admiral Amilyn Holdo (@lauradern), Captain Phasma (Gwendoline Christie) and Rose Tico (@kellymarietran). The shoes will debut on Saturday at the L.A. premiere of the latest episode. #wwdfashion
Today at the #BeautyIncAwards 2017, WWD will be joined by beauty leaders from around the world as we honor this year's most innovative people, products, brands and places. Follow along here and on Twitter for live coverage from the exclusive event. #wwdsummits (📷: @elizaflorendo)
Exclusive: Beauty superinfluencer @marianna_hewitt is launching her first-ever skin care brand with her business partner @laurengores. Their new line Summer Fridays, which will be sold exclusively at summerfridays.com starting in January, is launching with just one product – a hydrating cream Jet Lag Mask. “We wanted to focus on one product that was amazing,” said Hewitt. Read the full interview on WWD.com. Link in bio. #wwdbeauty #wwdnews
Michelin star-rated chef PJ Calapa marks his first solo endeavor with today’s opening of @scampinyc –– the new Southern Italian restaurant located in Manhattans’ Flatiron District. The upscale yet welcoming environment matches the menu, which includes two types of scampi: traditional Italian langoustines in butter and the Americanized version with shrimp over pasta 🍤 - pictured here. #wwdeye (📷: George Chinsee)