Daphne Howland of RetailDive calls attention the complex and extensive issue of overstocks in an industry plagued with the ongoing wage stagnation and the millennial’s focus on experience-related spending rather than acquisition of goods is likely to lead to a dismal holiday shopping season.
John Squire, CEO of DynamicAction, offered emerging trends and wise words of advice as retailers need to gear up for an already highly competitive holiday season:
"They (retailers) are focused on mobile-first interactions, customer-centric programs like personalization, and implementing prescriptive analytics to ensure they are meeting their customer expectations on every step of the buying journey,” DynamicAction CEO John Squire said in a statement. “Consumers are now accustomed to the ‘on-demand’ economy created by Uber, AirBnB, Starbucks’ mobile ordering and Amazon’s same-day delivery. Retail is no exception, and the category leaders are those who have their data connected and technology in place to answer customer’s demand for immediacy."
