economic forecast 2014 - kathy doyle thomas, cso, half price books
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Economic Forecast 2014 - Kathy Doyle Thomas, CSO, Half Price Books, October 25, 2013, Dallas, TXTRANSCRIPT
2014 Economic Forecast Kathy Doyle Thomas Chief Strategy Officer
Half Price Books
State of Retail in North Texas
Kathy Doyle Thomas Chief Strategy Officer
Half Price Books
Texas-based Retailers
New to North Texas
Real Estate in Metroplex • The market is alive and booming
• Multi-family properties are popping up everywhere
• DFW office space is at a premium – vacancy rate dropped a
full percentage point quarter-to-quarter
• Many retailers are taking over existing centers instead of building new ones
Issues for Retailers this Holiday Season
• NRF says government shutdown makes customers cautious about holiday spending
• Shoppers plan to spend 2% less
• 29% say government situation affects spending plans
• 51% say the economy would have impact on holiday spending
• 79.5% plan to spend less overall
• Thanksgiving is late, so shopping season shorter
Buying Habits
• Amazon is every retailer’s competition
• “Showrooming” is a major problem for retailers
• 43% of people have admitted to “showrooming”
Buying Habits
• Customers more savvy than ever
• Mobile devices allow for immediate product research
• If they don’t like something, they love to share
Mobile Devices/Tablets • 55% of time spent with online retail in June 2013 occurred
on a mobile device • 44% on smart phones and 11% on tablets
*according to a survey by comScore
HPB Customer Strategy • HPB offering new product mix like new bestsellers at
all stores
• We cannot let a customer leave without buying a book
HPB Customer Strategy
• Half Price Books is revamping website to help compete in online sales
• Customer service is more important than ever to compete with Amazon