Why Retailers & Restaurants Should Fear Disaster This Holiday Shopping Season (Video)
This is a 23 November 2024 video.
With consumer debt at all time highs, what can retailers and restaurants expect this holiday shopping season?
Holiday sales growth is expected to be slower in 2024 than in 2023, with S&P Global Ratings predicting a 3% increase compared to 4.7% in 2023. Consumers are expected to have tighter budgets, which may lead to more deal-seeking and intentional shopping. The holiday shopping season is five days shorter in 2024, which may require retailers to be faster and more agile. Retailers may offer more in-store activities to attract shoppers, such as cooking demonstrations or meet-and-greets. Marketers may focus on how to make delivery boxes more special to open to retain customers. ICSC’s 2024 Holiday Shopping Intentions Survey found that 92% of consumers plan to shop this year, which is the highest percentage since 2019.
Neely Tamminga is a consumer behavior expert providing strategic, analytical, and research-driven insights to companies and boardrooms. In other words, she extracts clarity from a complex world to better form strategies for growth across the consumer sector. Neely is CEO and Chief Whiteboard Artist of DISTILL-a company she co-founded in 2017. During her 20-year career on Wall Street, she would routinely apply seemingly imperfect and disparate data to help ground conversations about consumer behavior to money managers and institutional investors and would regularly appear on CNBC, Bloomberg, and Fox Business News.
https://youtu.be/-KthChQTCCM
00:00:00 Introduction
00:01:07 Neely Tamminga
00:04:18 Understanding retailers
00:09:13 Current State of the U.S. Consumer
00:12:51 Lower income struggling the most
00:17:54 Understanding inflation and CPI
00:25:21 YOY change in unemployment
00:33:28 What sectors are struggling most
00:35:07 How has the stock market continued to rally
00:42:27 We were headed into recession in 2019
00:43:43 Are we headed into a recession
00:54:09 Who spends the most money?
00:58:38 How will millennials survive?
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Whistler Blowers, Insiders
Especially the fascists stores that tried to force us into masks. I have not returned to a single one.