Tag: consumer spending

November 20, 2023

Consumer spending was top of mind as Target and Walmart released their third-quarter earnings, causing both retail giants to strike a cautious tone concerning inventory and the upcoming holiday season. Target While combating industry challenges like inflation and inventory shrink, […]

January 5, 2023

Retailers have been running around tirelessly trying to keep up with consumer demands and the drastic shifts in the economy. With the year coming to a close and the economic outlook for 2023 looking uncertain, retailers are growing concerned. Supply […]

December 7, 2022

The fashion industry has seen a strong recovery emerging from the pandemic. According to The State of Fashion 2023 conducted by The Business of Fashion (BoF) and McKinsey & Company, global industry revenue in 2021 grew 21 percent year-on-year, and […]

November 21, 2022

As the ‘golden quarter’ once again rolls around — the third since the pandemic began — retailers have learnt from experience to expect a direct challenge to business. In 2020, lockdown-fuelled online shopping surges led to mass stockouts; 2021 brought […]

August 30, 2022

Best Buy’s sales and profit levels faced dual pressures in Q2. On one front, consumer spending on discretionary categories, including big-ticket electronics, has fallen in recent months in the face of steep inflation on essentials, namely food and fuel. At […]

April 27, 2022

Home delivery demand skyrocketed when the COVID-19 pandemic took hold, but the pace of growth has finally slowed and cooled demand for UPS’ services. E-commerce sales grew just 2.6% year over year in March, the weakest gain in more than […]

December 30, 2021

Retailers have been using loyalty programs to turn new customers into returning shoppers for years. In 2016, the consumer loyalty management market was valued at almost $2 billion. By 2023, that figure is expected to reach nearly $7 billion — […]

December 21, 2021

In 2021, we saw a rapid increase of investment in marketplaces from established retailers and businesses, as well as technology platforms looking to boost commerce revenue and customer experience. Given the fast pace of adoption last year, industry experts have […]

November 19, 2021

Alibaba has warned of a consumer spend slowdown after shares in the ecommerce giant fell over 10 per cent after it slashed its sales forecasts sharply. The etailer cited sluggish growth in Chinese consumer spending, according to the Financial Times. […]

October 12, 2021

Consumer spending rose 13.3 per cent in September compared to the same period in 2019, however the ongoing supply chain crisis is hampering confidence. Research from Barclaycard revealed that spending on essential goods increased 14.4 per cent, the highest margin […]

May 25, 2021

In America and all around the world, the long, slow climb back to normal is well under way. Some COVID-era restrictions remain, but with vaccines continuing to roll out and optimism in the air, it’s a perfect moment to consider […]

April 8, 2021

Last year brought many unexpected challenges for both retailers and consumers alike. Shopping patterns drastically changed, most likely for the long run, as well as the products that customers were looking for and needed. Amid all of these changes and […]

March 10, 2021

Consumer spending fell by nearly 14 per cent last month despite consumer confidence in the economy rising to its highest level in a year. According to the latest figures from payments giant Barclaycard, spending dropped 13.8 per cent in February, […]

February 17, 2021

Consumers flocked to spend their stimulus checks in January, sending retail sales for the month up 5.3% in a blockbuster start to 2021, according to a government report Wednesday. Economists surveyed by Dow Jones were expecting a rise of just […]

December 3, 2020

Retailers and industry experts have been forecasting a 2020 holiday season dominated by ecommerce almost since the world started taking COVID-19 seriously, and results from “Cyber Weekend,” or BFCM (Black Friday/Cyber Monday), effectively made their case. In fact, the behavioral […]

November 17, 2020

Kohl’s on Tuesday reported a 13.3% decline in quarterly net sales, as the coronavirus pandemic limited the number of people visiting its stores to buy work clothes, shoes and makeup. Still, CEO Michelle Gass said the results exceeded Kohl’s internal […]

October 20, 2020

By this time each year, the National Retail Federation (NRF) would be out with its holiday retail forecast. But 2020 has been a year like no other, so NRF begged off making their prediction until November. Comparing the forecasting process […]

October 16, 2020

Consumers spent at a much faster pace than expected in September, with retail sales rising 1.9% in a sign that the U.S. economy’s biggest driver remains healthy. Economists surveyed by Dow Jones expected sales to increase 0.7%, up from a […]

July 14, 2020

Online grocery spend shot up more than 100 per cent in June as demand for home deliveries stayed strong despite retailers reopening their doors. According to Barclaycard’s latest data, online grocery spending jumped 105.9 per cent year-on-year in June, aided […]

June 11, 2020

Retailers in most countries have not faced an economic fallout of this magnitude since the global financial crisis of 2007-2009. The overall retailing industry declined 3% in 2009, only one of two declines over the last 15 years, but quickly […]