Retail for the holidays
As we approach the festive season retail sales always surge. In fact, the festive season is by far the most profitable time of the year for many retailers. In December it is not unusual for many retail businesses to see sales rise by 15% above normal monthly sales.
Online shopping is becoming a big business
In 2019, e-retail sales accounted for 14.1% of all retail sales worldwide. This figure is expected to reach 22% in 2023. In 2018, 14.3% of all US retail sales were ‘online’ sales. The US alone had ~259 million online shoppers in 2018, and is forecast to grow to reach more than 300 million by 2023.
This trend looks set to continue as online shopping offers the convenience of shopping from your PC or phone, discounted prices, and product delivery right to your door. According to a survey carried out in Canada in October 2019, there are four main reasons why consumers will shop online during the holiday season rather than in stores. Free shipping was the leading reason, alongside 24/7 availability of products and services, home delivery, and the convenience of it all.
Interestingly, the following countries had the highest growth rates for retail e-commerce sales in 2019 – Mexico (35%), India (32%), Philippines (31%), and China (27%). Canada is ranked 6th with a 21% growth rate.
Baby and children apparel is another growth area
In 2018 the baby and young children’s apparel market in the United States was valued at ~US$21 billion.
The global children’s wear market was worth approximately US$203 billion in 2017 and it is forecast to reach US$339 billion by 2024. The children’s wear market is projected to grow at a CAGR of 8.1% from 2019 to 2024.
Peekaboo Beans – Offers online shopping focusing on toddlers and children apparel
Peekaboo Beans Inc. (CSE: BEAN) offers an online shopping experience in clothing fashion, for both toddlers and children. Peekaboo is focused on environmentally responsible clothes that are intentionally designed to inspire play. The Company was formed 13 years ago by founder Traci Costa looking for a better alternative to dress her daughter. CEO Traci Costa says: “It’s not just about the clothes, it’s about play, passion, and possibility. It’s about product with a purpose.”
Peekaboo Beans’ children clothes offer responsible manufacturing, best intention for the kids, and long lasting quality
Peebaboo’s point of difference
Many children’s clothing brands, are focused on designing and manufacturing in what you could call ‘fast fashion’ capacity. The intention of fast fashion is to design and manufacture inexpensive clothing with the sole purpose of selling in high volumes to turn a quick profit. Often the fabric, the supply chain, or the production chain (or all three) are compromised to produce fast fashion garments. Peekaboo Beans approach is entirely different. Peekaboo fashions are ethically manufactured and are dedicated to providing the best clothing for children to feel independent, and play in comfort all day, every day.
By providing an online shopping experience Peekaboo offers the whole family to have an input into the selection of the latest fashions that are available, from the comfort of the family home.
In June 2019 the Company completed a very successful sales month. The summer sales of that month resulted in $160,000 in revenue across Peekaboo’s’ various distribution channels, an increase of ~300% on the June 2018 revenue of $41,000.
With the festive season fast approaching and with so many consumers leaving shopping to the last minute, Peekaboo may see an even bigger jump in sales than they recorded in their summer sales.
As we approach the festive season Peekaboo Beans should be a big winner from several tailwinds – Increased December retail sales, rapid growth in online shopping, and growing demand for children wear.