Post on 18-Oct-2014
description
2014 Economic Forecast Kathy Doyle Thomas Chief Strategy Officer
Half Price Books
State of Retail in North Texas
Kathy Doyle Thomas Chief Strategy Officer
Half Price Books
Texas-based Retailers
New to North Texas
Real Estate in Metroplex • The market is alive and booming
• Multi-family properties are popping up everywhere
• DFW office space is at a premium – vacancy rate dropped a
full percentage point quarter-to-quarter
• Many retailers are taking over existing centers instead of building new ones
Issues for Retailers this Holiday Season
• NRF says government shutdown makes customers cautious about holiday spending
• Shoppers plan to spend 2% less
• 29% say government situation affects spending plans
• 51% say the economy would have impact on holiday spending
• 79.5% plan to spend less overall
• Thanksgiving is late, so shopping season shorter
Buying Habits
• Amazon is every retailer’s competition
• “Showrooming” is a major problem for retailers
• 43% of people have admitted to “showrooming”
Buying Habits
• Customers more savvy than ever
• Mobile devices allow for immediate product research
• If they don’t like something, they love to share
Mobile Devices/Tablets • 55% of time spent with online retail in June 2013 occurred
on a mobile device • 44% on smart phones and 11% on tablets
*according to a survey by comScore
HPB Customer Strategy • HPB offering new product mix like new bestsellers at
all stores
• We cannot let a customer leave without buying a book
HPB Customer Strategy
• Half Price Books is revamping website to help compete in online sales
• Customer service is more important than ever to compete with Amazon