Retailers are confident about their results this year, study results show CIT Retail Outlook, produced by the American bank in partnership with Harris Poll and published in early November. 8 out of 10 retailers surveyed believe that their financial situation is good, even very good for 2016, and 79% of managers expect their turnover to increase this year. 1 in 5 retail executives estimate that the latter will even increase by more than 10%.
Carried out among 310 leaders of American retailers, the study looked at their morale a few weeks before the end of the year holidays, a particularly good time for retail.
Among the main growth levers identified, online sales lead (at 75%), followed closely by mobile (at 72%). However, the share of digital equipment (web and mobile combined) decreased between 2015 and 2016, dropping from 62% to 54%.
80% of retailers have aligned their “physical” and digital strategies
First observation, the largest share of sales (46%) by retailers still comes from physical stores. The web and mobile generate 41% of sales. Most of the retailers surveyed have also declared that they have used their physical points of sale differently in recent years, and 80% of them have aligned their in-store approach with their digital strategy.
Despite their optimism, retailers feel an intensification of competition in their sector. 7 out of 10 respondents thus expect to see one of the main players in their market disappear within 3 years.
** Methodology: survey carried out online among 310 retail professionals, between August 3 and 26, 2016. Respondents are managers or founders of retailers, with a minimum annual turnover of $ 5 million.