More than 121 million consumers plan to shop online today, Cyber Monday, with almost 30 million planning to do it from their smartphone or tablet, according to the National Retail Federation’s Cyber Monday Expectations Survey conducted by Prosper Insights & Analytics over the weekend. NRF’s Thanksgiving weekend results showed that 103 million people shopped online over the weekend. Mobile retailing continues to grow as more consumers rely on their smartphones and tablets to research products and find gift ideas, according to NRF data. Major retailers have learned how to use omnichannel, so they are now big beneficiaries of major online sales days like Cyber Monday, says The Weitzman Group and Cencor Realty Services president and CEO Marshall Mills (right, with TWG managing director Bob Young at an ICSC event).
For physical retail, however, online growth often reduces holiday foot traffic, Marshall tells us. Retail projects are learning to compete by creating experiences. For instance, Golden Triangle Mall has local high school performances (like the Guyer High School orchestra, here, being led by Santa Claus at TWG last week), a Santa Village, and other events and specials that make a visit much more than just a search for a gift. It’s retail as an integral part of the community, giving back with Salvation Army kettles, angel trees, donations and more, he says. There’s multiple promotions like one at Shops of Southlake, where shopping at key retailers on special days benefits various charities. And the biggest trend in retail, restaurants, benefits brick-and-mortar stores because they create exposure and help encourage cross-shopping, he says.
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