Covid, supply chain/inventory issues and inflation have combined to change the way consumers are shopping. But in many cases, inventories are now rising faster than sales. Retailers that recently struggled to restock shelves and sought out creative supply chain workarounds are now saying their stores are jammed with too much merchandise. Some are even doing… Continue reading RETAIL REVERSAL: Time for a SALE?
As inflation and prices continue to soar, consumers are losing confidence to spend. In fact, according to the University of Michigan, the Consumer Sentiment Index is now at its lowest since 2011. Consumers are being forced to change their shopping habits and prioritize spending. A new report by First Insight pinpoints some of those consumer… Continue reading Consumer Spending and Confidence Update
Not a single industry has been left unscathed by the current worker and labor shortage crisis – and it’s not getting better. Target still needs to hire 100,000, Macy’s is looking for 76,000 new associates, CVS wants to add 25,000 to its staff, and Amazon needs more than 150,000 additional workers before the holidays. Even… Continue reading Staffing challenges? Need to hire now?
The retail research experts at Forrester are looking ahead at the 2022 retail market and have identified important key trends. Let’s take that a step further and talk about what that really means for you. The circular economy will become a retail necessity Call it whatever you want – sustainability, resale, buyback, circular/secondhand strategy –… Continue reading Key Retail Trends for 2022
Yep, that’s the new term for it. As reported in Chain Store Age, JLL’s annual holiday survey says the pent-up demand for in-person shopping is expected to drive six out of 10 consumers into physical stores this holiday shopping season. Other notable findings: Consumers plan to spend 25.4% more this season, equaling 2019 totals. More… Continue reading “Revenge Shopping” for the holidays and beyond