NEW YORK — Consumers are still worried about rising prices, according to the latest data from Deloitte’s ongoing ConsumerSignals study. And that concern is likely weighing on Americans’ overall sense of financial well-being. That’s important because a sense of personal financial well-being can impact how consumers approach everything from budgeting for big purchases to their grocery
NEW YORK — This year will usher in a new era as retailers and consumers alike navigate a tight labor market, higher long-term interest rates, and overall economic volatility. This is according to Deloitte’s 2024 Retail Outlook, released today, which examines how retailers can rebuild trust to drive loyalty and rekindle profitability through experiences, personalization,
NEW YORK — Deloitte has released its 2023 Black Friday Cyber Monday Survey today, which examines what retailers can expect from shoppers between Thanksgiving and Cyber Monday. Overall, holiday spending during the Thanksgiving week is expected to reach new highs as consumers look to make the most of festive deals. Key takeaways Consumers plan to spend an
NEW YORK— Holiday retail sales are likely to increase between 3.5% and 4.6% in 2023, according to Deloitte’s annual holiday retail forecast. Overall, Deloitte’s retail and consumer products practice projects holiday sales will total $1.54 to $1.56 trillion during the November to January timeframe. In 2022, holiday sales grew by 7.6% in the same period. Deloitte also
NEW YORK — Inflation is prompting consumers to change their holiday spending plans, according to Deloitte’s 37th annual Holiday Retail Survey, which finds that overall shoppers are expected to keep spending flat year-over-year for an average of $1,455 per household, while purchasing fewer gifts for family and friends. Key findings of the survey include: Inflation
NEW YORK — Holiday retail sales are likely to increase between 4% and 6% in 2022, according to Deloitte’s annual holiday retail forecast. Overall, Deloitte’s retail and consumer products practice projects holiday sales will total $1.45 to $1.47 trillion during the November to January timeframe. In 2021, holiday sales grew by 15.1% in the same period.
NEW YORK — As consumers progressively purchase a wider spectrum of goods and services via digital currencies, U.S. merchants are reflecting a greater optimism, prioritization and implementation of alternate payments to meet this demand. Deloitte recently surveyed merchants on the factors that are most contributing to the significantly increased adoption of cryptocurrencies to understand shifts in consumer
NEW YORK — As COVID-19 is set to impact yet another holiday season, a return to some pre-pandemic spending levels is expected to bring holiday cheer. For 36 years, Deloitte has been examining consumer behavior and sentiment ahead of retail’s crucial holiday shopping season. To gain additional perspective on the changing landscape, supply chain challenges and inflation,
NEW YORK — Holiday retail sales are likely to increase between 7% and 9% in 2021, according to Deloitte’s annual holiday retail forecast. Overall, Deloitte’s retail and distribution practice projects that holiday sales will total $1.28 to $1.3 trillion during the November to January timeframe. Deloitte also forecasts that e-commerce sales will grow by 11-15%, year-over-year, during the
NEW YORK — The pandemic shifted consumer shopping habits and product preferences, and that in turn has led to big changes for the employees of food retailers and their suppliers. Now companies are ready to look past the pandemic and define the future of work for the industry, according to a new report. “Future of
NEW YORK — The COVID-19 surge has convinced many consumers to shop from home on Black Friday, according to the Deloitte 2020 Pre-Thanksgiving Pulse Survey released today. For the first time since the survey’s inception, more consumers plan to shop online (61%) than in-store (54%) on Black Friday. “As COVID-19 brings added health and financial concerns, both consumers and retailers are
NEW YORK — Deloitte has issued a new report called Seven Trends Impacting the Retail and Consumer Products Industries Amid a Global Pandemic and Beyond that looks at retail sales during the pandemic. Key takeaways include: As of April 2020, eCommerce year-over-year growth was up 68%, surpassing 40% of total retail sales. Convenience continues to reign supreme as more