A Forrester Research Inc. report predicted Monday that online retail sales in all categories except travel will reach $44.7 billion during November and December, an increase of 8 percent over 2008.
“Despite the lingering effects of the global financial crisis, the online space remains the retail industry’s growth engine,” the report said.
Relatively slow sales following the collapse of Lehman Brothers and the freezing of the credit markets in October last year make it easier for retailers to show strong growth this holiday period, the report acknowledged. In addition, the number of consumers saying they plan to buy products and services online this season increased 2 percent to 94 percent this year. Among retailers, 72 percent said they expect an increase in sales in the period.
Apparel and accessories are expected to do better than other categories, while computer software and hardware and books will lag. The number of online buyers who said they plan to spend more on apparel and accessories increased by 4 percentage points this year. However, consumers will still be looking for bargains, so retailers are advised to adjust prices, and offer free shipping and other merchandising strategies accordingly.
Large retailers have been doing better than small merchants in Forrester’s surveys, with only 21 percent of large companies reporting a decrease in online sales versus 39 percent of small retailers, probably because bigger merchants have deeper pockets and stronger marketing, according to Forrester. Mass retailers such as Wal-Mart Stores are expected to do well, with 24 percent of buyers saying they plan to try lower-cost alternatives to brands they normally buy. Thirty-three percent of online buyers said they plan to shop at mass merchandisers during November and December.
Free shipping is the most popular online offer, and 42 percent of online customers reported they will buy more online this year than in the past because of it.
Last year, online holiday sales reached $41.4 billion, an increase of 5 percent over the previous year. For the five years before that, growth was in the double digits.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)