Don’t believe everything you read. Good advice, right?
Despite the billions of bytes of data, information, news, and opinions floating around about the economy, and specifically the retail space, it’s not quite a death watch. Looking at ten different sources on, say, consumer confidence, will get you ten different points of view. One familiar lament is the state of brick and mortar retail locations. While there have been hundreds of store closings in 2018 and the first half of 2019, 90% of sales still happen in physical stores. Brands that work with ThirdChannel to enhance their sales floor presence know this and leverage our tools to boost sales and customer engagement.
Let’s look at the numbers. They are not flat-lining and sales are not circling the drain.
Target’s Q2 totals were impressive, resulting in a 19% surge in the stock price. Beating the street by a lot doesn’t sound like a dying industry, does it? Target posted earnings per share of $1.82 vs. the $1.62 expected. Revenue was up as well, at $18.42 billion vs. a predicted $18.34 billion. Finally, same-store sales were up by 3.4% when expected growth was 2.9% according to Wall Street.
Walmart had similar results. Earnings per share rose to $1.27 compared to the expected $1.22. Revenue jumped to $130.38 vs. $130.11 billion expected and same-store sales were up 2.8% vs. a 2.1% expectation. Both Walmart and Target have invested heavily in their store infrastructure and it seems to be paying off
The sales floor environment is crucial to unlocking sales and its hopping. Is your brand prepared to stand out in the brick and mortar landscape? Your products can’t simply be slapped onto a store shelf if you want to unlock sales and build brand awareness. With Holiday 2019 about to begin, find out how ThirdChannel’s suite of cloud-based retail analytics can help you optimize sales and hit your year-end numbers.