With the holiday shopping season fast-approaching, retailers around the country are preparing to put new and innovative sales strategies to the test and capture the attention of customers, notes Kelli Hollinger, director of the Center for Retailing Studies at Texas A&M University’s Mays Business School.
It’s 2016 and Americans are still impatient.
No longer is 3-4 days considered fast, and many consumers expect to pay less for same-day shipping.
“It wasn’t too long ago, relatively speaking, that free delivery and returns felt like a special-added bonus,” says Andrew Schmahl, principal of PwC’s Strategy& consulting group. “Now, 60 percent of retailers surveyed say they will offer both this holiday season.”
According to the National Retail Federation, nearly half of all consumers stated that free shipping was one of the most important factors when purchasing holiday gifts.
Retailers are brainstorming new ways to accommodate elevated consumer expectations as a result of Amazon Prime and Jet.com’s fulfillment strategies, such as same-day pick-up or scheduled replenishment deliveries.