We’re now well past the halfway point (?!?!) of the year, so it’s a good time to take a look at 2018 retail trends and sales. The U.S. Census Bureau surveys 4,900 retailers each month, releasing a detailed look at retail sales broken down into 13 different categories:
- Department Stores
- Food and Drink (Grocery and Liquor Stores)
- Building and Garden
- Sport and Hobby
- Health and Beauty
After a record-breaking year for retail in 2017 with $5.7 trillion in sales and the largest growth since 2011, 2018 is shaping up to be even better. June sales were up nearly 6% from the same month last year (because the holiday season accounts for approximately 20% of retail purchases, sales are usually comparatively measured month for more relevant data). Such strong retail numbers indicate a healthy economy. So be sure that your retail POS system can handle all of these crazy sales!
More Specific Trends for Retailers
Overall, we’re continuing to see huge growth for online and eCommerce sales. Still, consumers show no signs of abandoning brick and mortar stores. After all, the world’s biggest online retailer just bought one of the largest grocery stores and is in the process of rolling out Amazon Go, a new take on the brick and mortar retail store. Traditional retailers are forced to compromise with current trends rather than revamp altogether. This involves adjusting pricing, convenience, in-store experience, or other factors in order to entice the typical consumer.
Evaluating retail data in the United States is clearly an exhausting task, so we’ve picked a few of the more interesting and relevant points to highlight today:
So What Do the 2018 Retail Trends Tell Us?
With the vast seas of data, it’s hard to do a fair job of summarizing. But if there was one clear indication, it’s that any retail store must be making changes now to adapt to online commerce. This includes an efficient, content-rich website, a suitable eCommerce platform, and email and social media marketing. For a more in-depth look, check out these ridiculously informative studies that we used to put this blog together: