Decades-high inflation is likely to drive many shoppers to hunt for discounts and bargains at physical stores
. “Retail store traffic will increase over the holiday season, whereas e-commerce demands will perhaps remain steady,” said Corey Berkey, senior vice president of people and talent at human resources services firm Employ Inc.Of 3,600 consumers polled by retail research firm NPD, about 46 per cent said they would do more of their 2022 holiday shopping in-stores, up from 42 per cent in 2021. Forty-five per cent said they would shop online in 2022, down from 50 per cent in 2021, according to NPD.
With annual inflation running 8.3 per cent in August, Americans are projected to spend $915-billion, up 7.5 per cent, according to Bain & Co. Overall, retailers will add 680,000 workers during the 2022 holiday shopping season, compared to 700,000 last year, outplacement and career transitioning firm Challenger, Gray & Christmas, Inc estimates.
“It certainly makes it easier to manage the flow of inventory and staff the team in stores,” Mitchell said.
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