Further, consumers who purchased new gadgets during the pandemic could be looking to upgrade to the latest model. Tech the Halls: Electronics, gadgets and gaming might be at the top of many wish lists this year as AI, immersive experiences and digital workspaces continue to evolve the way we work and play.With this omnichannel approach in mind, consumers are anticipated to shop across channels, with e-commerce expected to increase +6.7%, and in-store sales to increase +2.9% YOY. Spreading Cheer Across Channels: While digital shopping habits became the new normal during the pandemic, this season’s shopper is looking to make purchases anytime, anywhere – in-store and online.“We expect these individuals to impressively navigate the holiday season, making choices and trade-offs that best suit their lifestyles.” Chief Economist, Mastercard Economics Institute. “While the consumer of holidays past may have been a consumer trying to find footing in a rapidly shifting economy, the consumer of holidays present has taken their power back,” said Michelle Meyer, U.S. After years of inventory and spending habits being in flux, the 2023 season will bring a broader rebalancing across categories, channels, and sectors in alignment with macroeconomic trends. Looking back at the 2022 holiday shopping season, inflationary pricing and pent-up demand, coupled with excess savings and rising wages allowed consumers and retailers to navigate the season well. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment and is not adjusted for inflation. reinforces continued consumer resilience. The anticipated growth in retail in the U.S. retail sales excluding automotive are expected to increase 3.7% year-over-year (YOY), according to Mastercard SpendingPulse™. This holiday season, running November 1 through December 24, U.S.
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