Stax study: Retailers need to offer holiday bargains
Today is Cyber Monday, a big day for online holiday shopping, and retailers would be well advised to offer big discounts.
So suggests a recent study from Stax Inc., a Boston strategy consulting firm that surveyed nearly 1,100 holiday shoppers earlier this month. According to the study, 75 percent of those surveyed said they expect to change the way they shop this season, largely because of the economy.
One trend that Stax sifted out of its data is that "traditional retailers are at risk of permanently losing customers without a more compelling value proposition."
Another trend: "The confluence of technology, retailers’ emphasis on driving sales at all costs, and the economy has instigated a promotions arm race that makes it harder for retailers to effectively reach consumers."