As we look forward to a new year, I thought it’d be intriguing to reflect back on the retail industry’s highs and lows from this past year. As consumers and businesses try to pull out of the recession, the holiday spending forecast was predicted to rise 3.8% to $469.1 billion this year. Consumers may be excited to spend again, which is great news for retailers, but there has been also some slip ups by retailers this year.
In an infographic by Retail Customer Experience titled, “Epic Retail Fails of 2011,” we can see what big retail names made big retail mistakes in 2011. Between an online shopping fiasco and a bookstore closing its doors, some businesses are looking forward to a new year more so than others.
A new year will offer a fresh start for retail stores, but businesses can’t forget lessons learned from the past. While it’s never healthy to dwell on past mistakes or think, “what if”, using constructive criticism, admitting mistakes, and being proactive will help businesses bounce back next year. Retailers who didn’t experience an embarrassing blunder should also be aware of others’ mistakes and shortcomings. These serve as fantastic case studies to help keep businesses moving in a positive direction.