Sales Up 0.46% for Week 2 Of September
Independent grocers report same-store sales for the first week of August were up 0.46 percent. Retailers reported the consumer counts for this week was down 1.11 percent compared to the same period last year.
Why the decline in foot traffic?
Americans tend to eat out a lot more when times are good and cook more at home when the economy goes sour. And right now, the economy is humming. Hiring is up and unemployment is at its lowest in decades.
In times when customers are more inclined to eating out or using online services, retailers need to start considering cross-selling and up-selling as a tool to grow their sales. An example of this could be, buy online but pick up in the store. Consumers aren’t fond of shipping cost. Why not give them the option to pick up their ready-to-go orders? You could offer discounts as an incentive to pick up their purchases.
It’s not about turning a blind eye to the shifts in the industry but understanding the changes and adapting to them.