Retailers around the world are gearing up for the hustle and bustle of the busiest time of year. Experts are projecting consumers will spend $602 billion this holiday season. And with billions in sales, there’s bound to be billions in merchandise returns, which can cause retailers to lose a significant profit margin.
The Resource Conservation and Recovery Act (RCRA) and compliance with it, remains a regulatory challenge for the retail industry. Many retailers are forced to become experts in waste characterization to ensure compliance with environmental regulations, something that has become difficult for resource strapped retailers.
One thing is certain in the world of retail: the pace of change is accelerating, and competition is fierce. Longstanding retail behemoths are dying, new specialty stores are springing up overnight, and everyone is desperately searching for new ways to stay ahead of the competition while keeping themselves from sinking.
Thanksgiving is drawing near, and with the official start of the holiday now beginning on Thursday (as some retailers will open on Thanksgiving Day), it’s time to talk about the “Giant Turkey” in the room for physical retail stores.
More than 1,000 U.S. merchants will offer free shipping this Dec. 18 on all orders with guaranteed delivery by Christmas. Just six days before Christmas, free shipping day attracts troves of last-minute shoppers looking for a good deal and generated more than one billion dollars in online sales last year.
Soon it will be the peak time of year for retail sales: the make-or-break, pressure cooker fourth quarter is already upon us. But before the cash register is humming and online orders are coming in just as fast as they can be fulfilled, retailers need to hire their seasonal employees.