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Consumertrends

All articles tagged with #consumertrends

business1 year ago

Restaurant Chains and Entertainment Revitalize Shopping Malls

Mall of America is using its amusement park and other entertainment options to attract visitors and revive foot traffic, a strategy known as "retailtainment." As traditional shopping malls face declining sales due to online shopping, some are evolving into destinations with activities like gyms, salons, and amusement parks to draw people in. Mall of America, which sees 32 million visitors annually, has shifted its focus from primarily retail to a mix of entertainment and shopping, aiming to create memorable experiences that encourage repeat visits.

via NPR|
#amusementparks#business#consumertrends
business1 year ago

Walmart Soars as Target Struggles Amid Retail Divergence

Walmart and Target's recent earnings reports highlight a growing divergence in their performance, with Walmart reaching an all-time high in stock value while Target hit a 52-week low. Target's earnings miss and reduced forecast are attributed to a decline in discretionary spending and higher costs, while Walmart benefits from increased sales in non-grocery items and gains in upper-income shoppers. Analysts suggest Target is losing market share to competitors like Walmart, Amazon, and Costco, and its reliance on discretionary items makes it more vulnerable to economic shifts.

via CNBC|
#business#consumertrends#earnings
business1 year ago

Luxury Goods Market Faces First Decline Since 2008

The personal luxury goods market is expected to shrink for the first time since the 2008 financial crisis, with a projected 2% contraction in 2024, according to Bain & Company. This downturn is attributed to global economic uncertainty, inflation, and a significant slowdown in China, a key market for luxury brands. While luxury spending overall is forecast to remain flat, segments like luxury cars and travel are seeing growth. Brands are urged to adapt to changing consumer preferences, particularly among Gen-Z, to regain market share.

via CNBC|
#bainreport#business#china
business1 year ago

US Craft Distillers Brace for Impact Amid Looming Whiskey Tariffs

Craft distillers in the U.S. are facing challenges due to rising input costs from inflation and potential tariffs on American whiskey exports. The industry, which saw a boom during the pandemic, is now experiencing a slowdown as consumers become more price-conscious. Distillers like Cedar Ridge and Koval are reporting flat or declining sales, while the threat of renewed EU tariffs on whiskey looms. However, there is growth in spirits-based ready-to-drink products and non-alcoholic options, with companies like Ventura Spirits adapting to these trends.

via Fox Business|
#alcoholindustry#business#consumertrends
business1 year ago

Travel Tuesday Emerges as a Major Player in Holiday Shopping

"Travel Tuesday," the first Tuesday after Thanksgiving, is gaining popularity as consumers seek travel discounts, with search interest rising over 500% from 2021 to 2023. McKinsey reports significant increases in travel bookings on this day, particularly in North America and Europe, though it hasn't caught on in Asia due to the popularity of China's Singles' Day. The trend offers travel companies a chance to boost revenue during a typically slow booking period, as more consumers prioritize travel experiences over material gifts.

via CNBC|
#blackfriday#business#consumertrends
lifestyle-and-environment2 years ago

"Unpacking the Stanley Tumbler Frenzy: From Target Campouts to TikTok Trends"

The Stanley water bottle craze has taken America by storm, with viral TikTok videos showing people clamoring for the latest color drops at Target, sometimes paying over 200% of retail price on secondary markets. This trend reflects a broader history of bottled water and reusable water bottles in the U.S., where despite the rise of reusable bottles suggesting an eco-friendly shift, bottled water sales have also surged to record highs. Critics argue that the trend is less about environmentalism and more about fashion and identity, as consumers collect bottles as accessories that communicate health, lifestyle, and status. The trend's environmental benefits are questioned as many of these bottles may eventually contribute to landfill waste.

via Boing Boing|
##consumertrends#environmentalimpact
lifestyle-and-consumer-trends2 years ago

"Exploring the Future of On-the-Go Drinkware Beyond the Stanley Cup Craze"

The Stanley cup, a popular insulated water bottle among millennials and Gen Z, has reached its peak popularity, especially after being a top Christmas gift for teens. Trend analyst Casey Lewis, after reviewing TikTok "haul" videos, suggests that the trend may be declining as younger kids have started to adopt it, which typically signals a move away from the trend by older demographics. The next trendy item is uncertain, but the Owala water bottle has been mentioned as a potential successor, although the trend may shift away from water bottles altogether.

via Business Insider|
##consumertrends#genz