Seth Ketron, assistant professor of marketing at the University of St. Thomas Opus College of Business, recently spoke with The Minnesota Star Tribune about how retailers are stepping up with big deals and festive experiences to attract shoppers during this holiday season.
From the story:
Santas made their debut at Twin Cities malls this week. Target shelves are full of “Wicked”-themed merchandise in anticipation of the movie opening this week. And discounts that started in October are in full swing.
Because Thanksgiving is the latest it can be on the calendar, the all-important final stretch of the holiday shopping season is six days shorter. The next two weeks – culminating with Black Friday and Cyber Monday – are even more important than in some other years for retailers from Best Buy and Macy’s to smaller local stores. ...
Online shopping is expected to grow 8% this year, outpacing overall retail, according to Adobe Insights, so retailers need to capture that audience while also winning the in-store push.
Brick-and-mortar can always compete as long as it’s an enjoyable experience, said University of St. Thomas marketing professor Seth Ketron.
“There’s only so much entertainment and enjoyment you can get out of shopping online,” he said. “If you can create an environment people want to be in, that gives you a leg up as a retailer.”
And Black Friday weekend is still the most consequential point of the holiday season for retailers. ...
Mass-market retailers like Best Buy and Target have the advantage. They are already the top destinations for 71% of Americans for holiday shopping, according to KPMG.
“The ones that do a little better craft that experience of, ‘We’ve got everything you need, and it’s enjoyable to be here,’” said Ketron.
