![]() “There’s a growing emphasis on data sharing and collaboration between brands and retailers,” Ganci continued. 35.85% of brands aren’t making any adjustments to their current sales strategy. Only 6.6% of brands responded that they were reducing the number of retailers they are selling into. ![]() To manage excess inventory due to closures, 29.25% of brands said they are implementing a strong off-price strategy to clear out excess stock that is still on hand during the back end of the selling season. Instead, 40.57% are focused on selling more through high performing retailers. This means that brands will need to focus on selling more of their assortments through high performing retail partners or find alternative retailers to bridge the gap.” According to the results of the 2023 Holiday Outlook Brand Survey, most brands are not pulling back on wholesale because of store closure this year. “At the same time, buyers are being more selective and are stocking profitable styles over higher risk trend items. “Due to the increase in store closures, brands will need to offset the lack of product in those stores so that they can still grow,” said Michael Ganci, Senior Vice President of B2B Go-To-Market at Lightspeed. Key findings from the survey are that while the majority of brands (51.89%) are not concerned about how the influx of store closures in 2023 will impact holiday sales, 74.53% of brands are worried that sales may be negatively impacted by current economic factors. Over 100 women’s and men’s apparel, footwear, accessories, luxury, beauty, outdoor/sporting goods, and home furnishings/décor brands weighed in on their expectations surrounding consumer behavior heading into the holiday season. The survey aimed to get a pulse on whether brands are revamping their holiday strategies or doubling down on tried and true programs in light of the current macroeconomic environment. Powering the world’s best businesses, Lightspeed is the unified POS and payments platform for ambitious entrepreneurs to accelerate growth, provide the best customer experiences and become a go-to destination in their space. (NYSE | TSX: LSPD) released the results of NuORDER by Lightspeed’s 2023 Holiday Outlook Brand Survey today. 02, 2023 (GLOBE NEWSWIRE) - Lightspeed Commerce Inc. If you're looking for the Settlements report, you'll now find that information under the Card Sales report.Brands are concerned about economic impact on consumer buying but opportunities exist Note: if you're looking for the Integrated Payments report, you'll now find that information under the Transaction Status report.
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