DENTON (UNT), Texas — University of North Texas retailing expert Linda Mihalick is available to comment on the back-to-school and holiday shopping seasons, during which consumers are forecasted to spend more than $80 billion. Mihalick can discuss consumer expectations for buying online and picking up in store, how digital retail affects shoppers’ decisions, new retail options in the area and where to find fashion at the right price.
For interviews, contact Trista.Moxley@unt.edu or call 940-369-7912.
Quotes from Mihalick:
- Convenience plays a more-important role in buying decisions. Buy online, pick up in store offers advantages for both consumers and retailers. Non-existent five years ago, the option is now an expectation by many customers. It is very convenient. Customers can place an order from their home and go to the store for fast pickup. Stores such as Target, Walmart, Nordstrom, Home Depot and many grocers have this technology and strategy in place.
- Customers continue to look for the best value – and they’ll do their homework digitally. About 40 percent of back-to-school and holiday customers will use coupon offers. Roughly 90 percent of actual purchases will be done in physical stores, but what continues to evolve is the consumer’s use of digital to pre-shop and make retailer decisions. Many customers look at websites, compare prices and collect sale information and coupons before heading out.
- Dallas-Fort Worth is enjoying investment by retailers in the booming local climate. While many reports paint a negative picture of the current retail environment, this is far from accurate for the DFW area. While several major retailers have shuttered their doors, many more are opening. This includes the new Apple store at the Galleria Dallas, Costco in McKinney, Warby Parker at NorthPark Center and Legacy West, Athleta and Aritzia, a new Canadian retailer.
- Off-price retail is booming, as this segment of retail continues to gain market share. Leaders TJ Maxx, Marshalls, Ross Dress for Less and Burlington dominate the landscape as traditional retailers such as Nordstrom with Nordstrom Rack and Macys with Backstage continue to expand. Many consumers like the thrill of treasure hunting for a deal and these stores offer that bargain hunter fix.