Roughly 71 percent of respondents in a recent survey conducted by CNBC say they are concerned about customers cutting back on holiday spending this year, despite recent national monthly retail sales being stronger than anticipated.
Retailers are reportedly ordering less stock for the holiday season, and two-thirds of respondents (67 percent) in the CNBC Supply Chain Survey said they’re expecting shoppers to be on the lookout for discounts this year.
Because of this, roughly 77 percent of items being ordered by retailers to sell in store are middle price-point items while luxury/high-end items (memorabilia, electronics and apparel) only represent 17 percent of orders.
VP of Supply Chain and Customs Policy at the National Retail Federation (Washington, D.C.) says the results of the survey proves the continuing challenges and stress for retailers and other businesses while dealing with current supply chain issues.
“Retailers are constantly working to ensure they have the right inventory mix to meet consumer demands, especially as we enter the peak shipping season for the holidays,” he says. “The ongoing challenges with the West Coast port labor negotiations and associated disruptions have certainly impacted some supply chain decisions. Many shippers have shifted cargo away from the West Coast and may decide to permanently shift away, even after the tentative deal is finalized.”
The CNBC Supply Chain Survey was conducted May 24-June 11 among 147 respondents, including the National Retail Federation (NRF), The American Footwear and Apparel Association, the United National Consumer Suppliers and the Council of Supply Chain Management Professionals.
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Exceeding Every Expectation: How Wilkerson Helped d’Original Jewelers Achieve an Outstanding Retirement Sale
When David Rees decided to retire after 34 years of serving Bellevue, Washington’s Eastside, he and his wife knew their exit from d’Original Jewelers needed to honor their decades-long commitment to customers while meeting their financial goals. Since opening in 1990, David had built a reputation as one of the area’s most trusted names for diamonds, custom jewelry, and repairs.
Understanding that a successful retirement sale requires more than just discounting merchandise, David chose Wilkerson to manage his transition. What impressed him most was their attention to detail, particularly in accounting and sales projections. The results far exceeded his expectations — the sale significantly outperformed projections, delivering exceptional financial results that surpassed his retirement goals.
“They were always there for support. If we needed anything, they were able to accomplish that,” David shares. For jewelers contemplating retirement, David’s experience demonstrates Wilkerson’s proven ability to deliver outstanding results while providing comprehensive support throughout the entire process. His recommendation? “100% yes.”
