Fed up with mounting global crises, consumers are reaching for their credit cards to make up for missed pleasures with a hefty dose of retail therapy. For astute retailers, it’s an opportunity to boost profits and nurture eager spenders looking for their next retail hit. In the weeks ahead, winning retailers will be those that are quick to respond to evolving buyer behaviors.
U.S. consumers are spending with a vengeance
After two years in crisis mode, shoppers don’t want to miss out on a good thing, particularly as their needs change and supply chain hiccups threaten holiday festivities[1]. By August of this year, spending for goods surpassed pre-pandemic levels with a 25.69% jump since January 2019[2].
