Curated News
By: NewsRamp Editorial Staff
November 21, 2024
Consumer Sentiment Survey Fall 2024: Impact of Ongoing Consumer Skepticism on Holiday Plans and Winter Spending
Discuss on Reddit
LinkedIn
Telegram
GithubTLDR
- Consumers are demonstrating greater loyalty to stores over brands, challenging the conventional notion of brand loyalty. Retailers must deliver clear value to win their business.
- Alvarez & Marsal’s Consumer and Retail Group released its latest consumer report, which analyzes how shifting economic conditions have shaped consumer spending patterns over the past year.
- To appeal to value-focused consumers, retailers can optimize their omnichannel experience and pricing structure to match evolving shopper priorities and spending plans.
- Consumers are expected to pull back their spending across all major holiday spending categories this year, gravitating towards online platforms for their holiday purchases.
Impact - Why it Matters
This news matters as it sheds light on the impact of ongoing consumer skepticism on holiday plans and winter spending. It highlights the importance for retailers to adjust their strategies to align with evolving shopper priorities and spending plans, appealing to value-focused consumers.
Summary
Alvarez & Marsal’s Consumer and Retail Group (A&M CRG) released its latest consumer report, Consumer Sentiment Survey Fall 2024, which analyzes shifting economic conditions and anticipated spending behaviors. The report found that consumers are maintaining conservative spending habits, demonstrating greater loyalty to stores over brands, and expected to pull back spending across major holiday categories. Higher income consumers have relatively consistent spending plans, while lower income brackets are planning to spend less this year.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Consumer Sentiment Survey Fall 2024: Impact of Ongoing Consumer Skepticism on Holiday Plans and Winter Spending
