The Retailing Reality of Holiday Shopping
Name:
Chelsea Niemuth
Major: Finance and Marketing
Hometown: Whitewater, WI
Faculty Sponsor:
Other Sponsors:
Type of research: Senior thesis
Funding: N/A
Abstract
Over the years, the retail industry has experienced a large increase in
revenue throughout the holiday season due to the marketing efforts and boom of
Black Friday. However, in the last decade as trends have changed,
retailers are struggling to adapt to the new holiday retailing reality.
Retailers in all segments are dealing with intense competition as there are an
increasing number of choices where and how consumers can shop. Consumer
interest has begun to turn away from Black Friday and lean more towards online
shopping and participating in other retail deal days that have emerged, including
Thanksgiving. People are also starting their holiday shopping earlier
than ever. Retailers are trying to find the right mix of physical and online
presence as holiday retail trends change year to year. Therefore, during the
holiday season, retailers need to be able to compete in their market segments
by adapting new strategies to set themselves apart from competition and keep up
with trends. Retailers can do this by focusing on their online sales
strategies, assessing the different holiday deal days and selecting ones to
focus on based on data and trends, or featuring unique products and adding
value to differentiate themselves so that they don’t have to compete solely on
price.
Poster file