Shoppers could see different landscape this holiday season

The 2016 2nd quarter numbers are in, and it wasn’t a great one for the pockets of many Americans.  Salisbury University professor of finance Tylor Claggett says “typically this time of year you have back to school purchasing and that tends to bump the retail sales up a little bit, and apparently that didn’t happen in July.”  What did do well in the 2nd quarter, is retail stores, who showed a bump in stock for consumer spending through July. That bump, juxtaposed to the larger picture in which department and retail stores are struggling to stay afloat in a day where consumers have more ways to buy goods than ever before.

Macy’s recently announced the imminent closure of over 10% of its stores.  Back in 2014, JC Penney closed in Salisbury as a part of a string of over 30 stores that were closed down, and the ripple effect can be felt throughout America. “If these stores that are now beginning to maybe stop doing business in a certain area are the anchor stress in malls, that’s different if it’s a less prominent store that closes.” Claggett explains to 47ABC that those less prominent stores often rely on foot traffic generated by larger retailers.

Dressing Room, a boutique in Salisbury is not quite as dependent on foot traffic.  Owner Anne Heavner says most of their business comes from word of mouth.  While word of mouth may get customers in the door, businesses like The Dressing Room outmaneuver larger retailers through good old fashioned customer service.

Consumer habits are always evolving, but convenience is the one thing Claggett says will never be passed up.  Amazon has done quite well in that area, but there could be competition waiting in the wings this holiday season, Claggett says he wouldn’t be surprised to see a company from overseas compete against Amazon.