Strip malls are history. – Jeff Bezos
Let’s be honest. Many of us have been spending a lot more time in front of our televisions and computer screens lately. Whether you’re watching the Sopranos for the first time or placing your order for next Monday’s grocery pick up, odds are you’ve been glued to your digital devices as well.
COVID-19 restrictions have zapped revenue from physical retail spaces, as consumers have been forced, or chosen in many cases, to remain home. It comes as no surprise that a company that operates popular online and televised brands, like HSN (formerly Home Shopping Network), would be positioned to benefit from this dramatic shift in consumer behavior.
Qurate Retail Inc. (NASDAQ:QRTEA) is a massive media conglomerate in the video and eCommerce spaces in North America, Asia, and Europe. The company employs over 25,000 individuals and oversees brands that reach nearly 400 million households,
Home Depot is joining a slate of retailers in “reinventing” Black Friday this year in an effort to prevent large crowds from gathering amid the COVID-19 pandemic.
Rather than have a single day of deals, the home improvement retailer announced Wednesday it will offer sales throughout the holiday season.
TARGET TO CLOSE THANKSGIVING DAY, START HOLIDAY DEALS IN OCTOBER TO AVOID CHRISTMAS RUSH
Although stores will be closed on Thanksgiving Day, both in-store and online sales will begin in early November and last through December, according to an announcement on the company’s website.
With new cases of the virus rising in some areas of the country, retailers are increasingly trying to find ways to prevent crowds from gathering during the holiday rush.
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“Starting with reinventing Black Friday, we’re improving the shopping experience, with your safety and wellbeing as our priority,”
Five Below CEO Joel Anderson told CNBC on Wednesday that the discount retailer has seen positive signs from back-to-school shopping despite the coronavirus pandemic shifting many districts across the U.S. into remote learning arrangements this fall.
“The merchants did a great job pivoting, and we’re seeing a great back-to-school season, albeit it’s very different than the traditional season — all about backpacks and pencils,” Anderson said on “Closing Bell.”
Instead, Anderson said, consumers have been favoring items that can help make learning from home a more enjoyable experience for children who live in places where in-person instruction has been canceled or delayed.
“Depending on the state, the municipality, they’re going back in their homes and they want to create an environment that makes school comfortable being at home, Zooming,” he said, referencing the videoconferencing provider Zoom.
Back-to-school shopping is a critical period for many U.S. retailers, but the changing dynamics
An artificial Christmas tree sits on display inside a Home Depot store in New York.
Daniel Acker | Bloomberg | Getty Images
Home Depot on Wednesday previewed its 2020 holiday shopping season — adapted to pandemic times, when crowds are taboo but customers still want deals.
Among the changes, the home improvement retailer said in a post on its website that Black Friday specials will stretch on for nearly two months, rather than take place on a single day. It will collaborate with Pinterest to inspire a different kind of DIY project: Making meaningful, homemade gifts. And it will nudge customers toward its mobile app by putting promotions there first.
The company emphasized an option that could gain greater popularity this year, though it was available in years past: Getting a fresh Christmas tree delivered to a customer’s doorstep.
Home Depot is one of the retailers that has seen sales