Retail Industry Heating up for Summer and Back to School

Strategy Plan One

June 29, 2012

Retail Industry – Summer Period

Like other economic indicators, the retail industry is slowly improving.  It has been estimated that the retail industry will grow in the summer months as food and retail sales increase due to the tourism season.  Retail centered around tourism and travel see marked improvement as many tourism destination packages are developed and offered up to consumers.  Building into the summer retail period, back to school retail sales occur in the summer month, and this year’s consumer trends are interesting.

In terms of consumer behaviour and trends, The National Retail Federation (NRF) – BigInsight have released information on their Independence Day Survey, which highlights 67% or roughly 160 million Americans will be out and partaking in July 4th celebrations.  Retail is estimated to be up in many categories as consumers buy up patio furniture, grills, and beach merchandise.  From the survey, more than 48 million or 23% will buy patriotic US gear and merchandise.  This is a marked 3% improvement from the previous annual survey.

For those businesses centered around events, like fireworks or parades, the survey data shows estimates that 115 million will attend events, and an additional 35 million will be spectators at parades.

Back to School – Retail Trends for 2012

Summer retail period also includes the “back to school” retail craze.  This year’s survey by NRF suggests that consumers may be a bit more frugal this year, indicating that spending behaviour may be down by 5-6%.  Last year the average person spent $603 on all back to school items including clothing, supplies and electronics.  It is estimated that this year’s average spending may be in the range of $580-590 according to the survey.

E-commerce plays a significant role in back to school retail, as the survey data suggests 31% will conduct comparative shopping online and 17% stated that they will shop more online.  Both figures show increasing trends over last year’s survey data.

Here are the comparative results of a BigInsight Consumer spending survey, illustrating consumer behaviour 2010-2012 with respect to back to school retail.

Retail industry - back to school

More responses in this survey show consumers siding with cautious, with very conservative behavioral responses to the survey questions.  Businesses and entrepreneurs should analyze survey data and adjust retail planning accordingly.  For instance, the survey suggests more will be shopping online, the trend of using coupons or find deals is increasing and spending less overall.

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Strategy Plan One

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© 2012 Strategy Plan One

Social Media, Mobile and Internet Data by the Minute [infographic]

Strategy Plan One

June 22, 2012 

Social Media, Mobile, Internet Data

It is mind boggling how much data we create and digest through multiple forms of electronic media and devices.  Taking the business perspective on the “data created every minute” information in the infographic from Domo:

  • Consumers spend over $272,000 / minute – sites are showing trends in e-commerce fused with social media activities
  • Brands receive ~35,000 likes / minute on Facebook – does your business have a presence in social media sites?
  • YouTube users upload 48 hours of content / minute – Sites with video lead to more sales
  • Mobile increases its user base by 217 every minute – trends are favorable in mobile app and e-commerce through mobile devices
  • Facebook users share almost 700,000 pieces of content / minute – as an astute marketer in your business, create valuable content worth sharing

social media mobile internet data by the minute

Here are some additional Social Media articles, blogs and infographics:

More on Mobile Market and Mobile Apps:

 

Strategy Plan One

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Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One

Construction Industry – April 2012 Economic Statistics Continue to Climb

Strategy Plan One

June 5, 2012 

Construction Industry – April 2012

US Census Bureau Statistics from the construction industry continue on a favorable trend, now estimated to be $820.7 Billion (seasonally adjusted annual rate) for April 2012.  This is significant up from the month of April 2011 with an increase of 7.3% over that month.  It also represents an increase of 0.3% over the March 2012 figure of the $818 Billion seasonally adjusted annual rate.

These are good economic indicator signs, with the construction industry steadily improving for three consecutive months, and follows favorable statistics released on residential construction and residential sales.

construction industry  - april 2012

The biggest gains occurred in the residential construction sector, growing at 2.6%.  However, non-residential construction represents the majority of construction.

Articles and blogs on economic indicators:

Construction Industry News

 

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One

London Olympics – Statistics and Business Opportunities [infographic]

Strategy Plan One

June 2, 2012 

London Olympics – Statistics Show Business Opportunities

At a quick glance at this London Olympics infographic from Timeout.com, you can see the plentiful business opportunities for the period of the games itself and the lead up to hosting the games.  If you have the ability to supply major events, these opportunities may give your business massive global exposure.

Just some of the business opportunities you can see in this infographic:

  • Food services and catering (whopping 14 Million meals to be served)
  • Audio visual, technical services, broadcast center services
  • Information management
  • Infrastructure development, construction, landscaping, field maintenance
  • Maintenance, cleaning crews, security services
  • Sporting goods suppliers, sporting event officials
  • Tourism and accommodation booking companies
  • Even biological services (relocation of species)

If you are interested in last minute supplier or procurement opportunities, check out the business opportunities on the official page at London Games.

London Olympics - business opportunities

Infographic courtesy: Timeout.com

Other Olympic business links:

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One

Social Media Buttons for Targeting Your Business Audience [infographic]

Strategy Plan One

May 25, 2012 

Social Media Buttons

Many businesses need to consider what social media platform to use when messaging and targeting audiences, as each represents slightly differing markets. Some provide great referral traffic and significant volumes of traffic to your business.  Some social media platforms are dominated by male users, while others have a majority of female users.

Whether you are focused on Business to Business (B2B) or Business to Consumer (B2C), here are some of the highlights of the business perspectives from this infographic:

  • Largest volumes of uses:  Facebook, Twitter, LinkedIn
  • Female audience majority: LinkedIn, Pinterest, Twitter
  • Male audience majority: Google+, Facebook
  • B2B: LinkedIn, Twitter, Facebook
  • B2C: Stumbleupon, Digg
  • Referral Traffic:  Facebook, Stumbleupon, Twitter, Pinterest
Here is another infographic on social media buttons for business from TheSearchAgents.

social media buttons for busines

Other Social Media blogs and infographics:

 

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One

Social Media Statistics on Pinterest – Traffic and Online Sales Impacts [infographic]

Strategy Plan One

May 19, 2012 

Social Media Statistics – Pinterest

Here is some proof that Pinterest, the growing social media pinning site, is gaining massive e-commerce momentum.  Check out these statistics illustrated in this infographic from Shopify on Pinterest:

  • 3rd most popular social media site
  • 145% – daily growth in new users
  • 16% gain (over 2011) stores citing revenue from Pinterest
  • Over 400% increase in online orders from pins over the last 6 months
  • $80 average order through Pinterest

social media statistics - Pinterest

Check out some more interesting social media blogs:

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One

Unemployment Statistics for April 2012

Strategy Plan One

May 4, 2012 

Unemployment Statistics

The Bureau of Labor Statistics has just released more favorable trends in the unemployment statistics.  The Bureau reported the unemployment rate now sits at 8.1%, a 0.8% drop over the April 2011 unemployment figure.  It was estimated that 115,000 more jobs were added in April 2012.

unemployment statistics

Courtesy:  The Washington Post , Bureau of Labor Statistics

Unemployment Statistics – Sectors

The increase in jobs follows the trend of job increases month after month through 2011 and 2012.  However, the trend shows declining number of new jobs over the past 3 to 4 months.  This might be a sign of employment catching up with the recent slight bump in economic recovery.  Slow and steady.  It could also be a sign of a shrinking labor pool that may exist in certain US business sectors.

The lowest unemployment statistics for April 2012 occurred in the government, education and health services, and financial sectors (3.7, 4.8, and 5.5% respectively), while the small business and entrepreneurial sectors of construction, agriculture, leisure, and business services show the higher rates of unemployment.  Recent statistics have shown that those sectors might be experiencing slow recovery mode.

 

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One