Apparel Online Bangladesh Magazine November Issue 2018 | Page 69

WORLD WRAP
consumers start searching for deals.
Responding to this trend, many
retailers from Amazon to Walmart
have started offering deals days and
even weeks prior to Black Friday.
The trend impacts both online
and bricks-and-mortar strategies
around the holiday shopping
weekend, effectively extending
the ‘big sale event’ throughout
the entire month of November
from Black Friday on to the Cyber
Monday and including Cyber week
(the 7-day period beginning with
Thanksgiving).
According to Criteo, which works
with a growing network of over
18,000 brands and retailers across
the globe and sees 1.4 billion
shoppers each month and 650
billion in commerce sales each
year, Holiday 2017 revealed an
unexpected opportunity for retailers
– the week between Christmas and
New Year’s, a.k.a. ‘Cyber Week
II’. According to a recent report
by Criteo, between December 26th
(Boxing Day) and December 30th,
the US saw up to a 46% increase
in online retail sales, which speaks
volumes of the potential of Cyber
Week II. December 25th marks the
beginning of this week, a period
when shoppers flood back to the
market to take advantage of online
deals. Gift cards in hand, they’re
ready to treat themselves in the
run-up to New Year’s Day.
Digital penetration will
continue to dominate
sales
There seems to be no U-turn to the
immense popularity that online
shopping enjoys among consumers;
it is only getting bigger, by the
day. Holiday e-commerce sales are
expected to increase by 15.3%,
according to eMarketer’s new
forecast. These figures are very
impressive, though lower than the
holiday e-commerce sales in 2017
that grew by 17.8% – an increase
that the National Retail Federation
(NRF) attributes to ‘growing wages,
stronger employment and higher
confidence’.
However, not all projections are as
conservative, and Deloitte estimates
that e-commerce sales could increase
between 17-22% for the 2018 holiday
season, which it defines as the
period from November 1 to January
31. Deloitte’s healthy estimate is
partly because of “solid disposable
personal income growth,” says
Daniel Bachman, Deloitte’s US
economic forecaster. He adds that a
strong labour market should also aid
retail spending, along with elevated
consumer confidence and a stable
personal savings rate of around
7%. Adding to the digital buzz is the
fact that in 2017, more than 40% of
all online retail sales in November
and December happened on mobile
phones. Significantly, December 23,
2017 (closely followed by Christmas
Eve and Christmas) was the biggest
day ever in the history of mobile
commerce in the US with 48% of all
purchases made on smartphones. Gap Inc. appoints
three new members
to the board of
directors
Giving consumers
experience and not just
a good product is the
way forward U
The real holiday season isn’t about
the gifts so much as the joy and
memories that they bring to families
and friends, so creating memories
that stay for a long time is important.
Being present for the consumer at
his convenience is gaining
importance. Brands that can connect,
no matter at what time of the day,
or the week, or season or the year
stand to build a series of moments
for their customers over time – the
ones that are filled with discovery,
joy, hope, excitement, and even love.
The smartest retailers and brands
are building long-time customer
loyalty by creating the best, most
personalised customer experiences
across channels and devices.
Here, being omnichannel is a big
advantage.
As the holiday season nears,
retailers are finding ways to be a
part of the experience of Christmas
shopping, and with the general mood
in the US economy being positive,
it is going to be a holiday season to
watch out for!
S-based apparel brand Gap Inc. has reinforced its
top brass by appointing three new members to the
board of directors, namely Amy Bohutinsky, COO, Zillow
Group Inc.; John Fisher, Co-Founder & General Partner,
Sansome Partners; and Lexi Reese, COO, Gusto, who will
join the American fashion label.
Notably, prior to her appointment at Zillow Group,
Amy served as the Director of Communications at
Hotwire, an internet travel company. While, Lexi Reese
who is currently leading Gusto, has been responsible
for empowering the company’s business teams that
include customer experience, insights and operations,
marketing and sales.
Speaking on this development, Bob Fisher, Chairman,
Gap Inc. cited that the label was pleased to welcome
three new members to the board of directors. “Each of
our new directors brings on board different and solid
understanding of today’s customer, their demands,
and the opportunities within the retail industry. Amy
and Lexi have proven track records driving critical
business decisions at the intersection of technology and
commerce. John’s deep understanding of the company
and substantial financial acumen will be immensely
valuable to our board,” Bob said.
Gap recently forayed into the activewear segment with
its exclusive brand Hill City, specifically curated for men
inspired by its womenswear athleisure brand Athleta
that caters to the female audience for the leading
apparel label.
Additionally, Gap registered net sales worth US $ 15.9
billion during the previous year.
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