Economic Forecast 2014 - Kathy Doyle Thomas, CSO, Half Price Books
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18-Oct-2014 -
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Transcript of Economic Forecast 2014 - Kathy Doyle Thomas, CSO, Half Price Books
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2014 Economic Forecast Kathy Doyle Thomas Chief Strategy Officer
Half Price Books
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State of Retail in North Texas
Kathy Doyle Thomas Chief Strategy Officer
Half Price Books
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Texas-based Retailers
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New to North Texas
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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
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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
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Buying Habits
• Amazon is every retailer’s competition
• “Showrooming” is a major problem for retailers
• 43% of people have admitted to “showrooming”
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Buying Habits
• Customers more savvy than ever
• Mobile devices allow for immediate product research
• If they don’t like something, they love to share
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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
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HPB Customer Strategy • HPB offering new product mix like new bestsellers at
all stores
• We cannot let a customer leave without buying a book
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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
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