Cautiously Optimistic: Korn Ferry Survey Shows Retailers Expect Increased Sales this Holiday Season and Plan to Hire More Seasonal Workers
- However, Retailers Expect Hiring to be More Difficult –
- Forty Percent Anticipate Paying Higher Hourly Wages –
Nearly half of the respondents (45 percent) said they expect to see an increase in holiday sales in 2017. None of the respondents expect a decrease in sales. To meet the growing expected demand, 80 percent are planning to hire the same or more seasonal workers than last year.
Hiring additional seasonal retail staff may prove to be difficult, however. Forty percent of respondents believe there will be fewer applicants in the candidate pool this year, and 40 percent anticipate paying higher hourly wages.
Respondents point to the reasons hiring will be more difficult this year, with 40 percent citing minimum wage increases and market increases in the retail industry as the culprits.
“Despite rocky times this year with brick and mortar store closings at
near record levels, a relatively strong economy is expected to bode well
for retailers this holiday season,” said
To help differentiate themselves in the marketplace, 20 percent of respondents say they are placing a greater emphasis this year on hiring employees who align with their brand culture, and 15 percent say they are placing a greater emphasis on the in-store retail experience.
“While 75 percent of respondents say they will use their mobile platform to help drive sales this holiday season, it’s clear that they still are focusing on the traditional in-store experience,” said Rowley. “But that experience is changing by becoming more intimate and tailored to the specific demands of the shopper.”
About the Study
Tracy Kurschner, 612.309.3957