The retail industry has been disrupted in practically every way imaginable. It’s about time that retailers also rethink their approach to the holiday shopping season. It no longer makes sense to rely on disproportionate revenue from the holiday season to make up for softness in sales during the rest of the year.
Why Retailers Should Retire Holiday Shopping Season
It’s time that retailers re-think their approach to the holiday shopping season. It no longer makes sense to rely on disproportionate revenue from the holiday season to make up for softness in sales during the rest of the year. Customers don’t want retailers to dictate their shopping schedule; wealthy customers are getting used to buying what they want when they want it, whether it’s on their phones en route to work or via Alexa while they’re making dinner. And price-sensitive buyers have learned to wait for the real deals in January before they do their buying. An over-emphasis on the holiday season doesn’t make sense from the retailer perspective either. The large fluctuations in demand wreak havoc on supply chain, labor management, and accounting. The technology and analytics now exist for retailers to better predict what people want and when they want it, so they should use these capabilities to move away from the traditional seasonal approach.