Loss Prevention Research Council Weekly Series - Episode 32 - NRF Holiday Forecast, China's Singles Day, and Value of Physical Stores
With Dr. Read Hayes, Tony D'Onofrio, and Tom Meehan
From Statista, Saudia Arabia 5G at 377.2 Mbps. USA at Number 8 at only 52 Mbps. In USA it's live in selected areas, but 5G users are only connected 21% of the time. Right now 5G in USA in only 1.8 times faster than 4G.
From NRF, USA consumers will spend $997.79 on gifts decorations and other non-gifts this holiday season. Gift spending is down only $9 this year to $650. 19% said they typicall travel, but will stay home this year. 53% of those that have changed travel plans said they will spend more on gifts.
What would convince you to shop in stores this holiday season? Sales & promotion (53%), Avoid crowds (37%) and Avoid stress of last minute shopping (31%).
60% plan to shop online. 91% plan to take advantage of free shipping. 44% plan to use BOPIS.
Top three USA shopping destinations this holiday season: Department stores, Discount Stores, and grocery stores.
From CEUFast, top 5 pandemics
- Worldwide Smallpox Epidemic - killed 500 million people - years 1877 to 1977
- Spanish Flu - 50 million - 1918 to 1919
- Plague of Justinian - 30 to 50 million - 483 to 565
- HIV / Aids - 32 million - 1981 to present
- Bubonic / Black plague - 25 million - 1347 to 1351
COVID-19 at No.13 having killed over 1 million people through October 14.
The idea of quarantine was invented during the Black Plague. Sailors would not leave their ships for 40 days to avoid spreading the illness. Word comes from Italian worl for 40 which is quaranta.
From Perch Interactive - More ecommerce is being delivered by local brick and mortar stores than ever before. Was at 24% in April 2020. It jumped to 42.4% in July.
Instore margins much higher averaging 5%. Home delivery from a grocer has a negative 15% margin, from a dark store negative 10%.
Single's day started as a college prank where singles decided Valentine's should not have all the fun. They created November 11 or 11/11 as the day singles would buy their own gifts. Alibaba scored $38 billion in 24 hours in 2019 making it a major shopping holiday.
100+ western brands participated in 2020, including Adidas, Estee Lauder, and Nike which generated $15 million in gross merch revenue within the first 111 minutes.
Livestreaming also popular. Cartier had 770,000 people attend their livestream.
USA tried to replicate it with October 10 holiday or 1010, but it had mixed results with only 60 brands participating.
Amazon released Dash Smart Shelf. It's a wifi enabled device that automatically counts and re-orders.
