Retailers around the country are becoming more optimistic about the near future, as many expect that their operations will see a strong boost from this year's holiday shopping season. This is in large part due to the fact that consumers are more confident in their financial conditions as well as the improving economy. For this reason, businesses are steadily gearing up for the holiday shopping rush, both in stores and online, as the total amount of purchases is anticipated to meet or surpass the figure from last year.

Confidence is on the rise

One big indicator that holiday retail sales will be more than last year's amounts is the fact that both consumers and retailers are regaining their confidence. According to Kiplinger, the consumer confidence levels have been steadily improving over the past few months, and it is expected that they will continue to increase. On top of that, credit card delinquencies have been decreasing recently, meaning that Americans are making more conscious efforts to get out of debt. This boost in better financial management could contribute to higher holiday sales, the website states.

Another factor that is playing a large role in the optimism is the recent hiring numbers from retailers who are bringing on additional staff members to help with the influx of shoppers over the next few months. The source reports that big name businesses are increasing their amounts of seasonal employees from last year. Target is planning on hiring 90,000 workers, while Kohl's will bring on 52,700 – a 10 percent increase from 2011. Additionally, approximately half of these seasonal position will turn into permanent jobs next year, Kiplinger states.

Retailers can go targeted to boost sales

For retailers who want to put more effort into increasing their holiday sales, developing targeted discounts and offerings could very well give merchants the results they are looking for. Independent Retailer writes that attention should be given to selling to existing customers, as loyalty has already been established and they are more likely to buy items and products for their holiday lists from businesses they are familiar with.

But to start off, retailers need to gather and analyze consumer data, which can then be used to create a profile including their information. Studying these aspects will give merchants a better understanding of what patrons want and are looking for. Purchasing histories should also be taken into account, writes the source. This data can be leveraged to offer related products based on what shoppers bought in the past.

This entry was posted by Retail Pro on Wednesday, October 17th, 2012 at 2:02 am .