John Stewart’s Post

The retail spending numbers for June 2024 are in and they're on the rise, but that doesn't mean that consumers have completely loosened the reins on their spending habits. In fact, according to a recent Algolia survey 49% are waiting for summer sales events to shop in order to get a better deal! Due to this, Algolia's Piyush Patel is predicting that July retail numbers will be even higher with retail sales events dominating the industry so far this month! Find out more about how consumers plan to take advantage of inflation cooling off during these hot months from @Melissa Daniels at @Modern Retail here:

The retail spending numbers for June 2024 are in and they're on the rise, but that doesn't mean that consumers have completely loosened the reins on their spending habits. In fact, according to a recent Algolia survey 49% are waiting for summer sales events to shop in order to get a better deal! Due to this, Algolia's Piyush Patel is predicting that July retail numbers will be even higher with retail sales events dominating the industry so far this month! Find out more about how consumers plan to take advantage of inflation cooling off during these hot months from @Melissa Daniels at @Modern Retail here:

The retail spending numbers for June 2024 show an increase year-over-year, but that doesn’t mean that consumers have completely left behind their cautious behavior when it comes to making a purchase. How can we be sure? Algolia’s recent ‘Summer Deals’ data provides an inside look at consumer sentiment this summer shopping season, and according to the survey, 49% of respondents wait for summer sales to shop for something that they know they want to buy to get a better deal or price! Interested to learn more about how consumer behavior shaped up during June and gain insights on July predictions from Algolia’s Chief Ecosystem Officer, Piyush Patel? Check out this article from Melissa Daniels, Modern Retail... https://lnkd.in/ejETsrRq

📈 Retail spending in the U.S. shows a positive trend, boasting a 2.3% year-over-year increase in June 2024, totaling $704.3 billion. Yearly sales have surged to $4.1 trillion, marking a growth of 2.8%. Despite this upward trajectory, shoppers approach purchases strategically, aligning their spending with major sales events like Memorial Day and Prime Day. A recent survey by Algolia unveils that 49% of consumers are holding out for summer sales to make planned purchases, signaling a delicate balance between spending readiness and the hunt for better deals. #Retail #ConsumerSpending #Economy 🛍️📊 #backtoschool https://lnkd.in/gaqHiuSq

Consumers pulled out all the stops to enjoy themselves over the holiday period - as the latest US retail sales numbers attest. However - without being overly gloomy - it's important to recognize some of the cracks that are now appearing: higher debt being taken on, higher promotions eating into margins, disinflation affecting headline growth for retailers. 2024 will certainly be an interesting year! Thanks to Inside Retail for including my comments on the latest retail numbers: #retail #retailnews #economy https://lnkd.in/eE3ZGUFG

Great news for shoppers! Retail sales took a big leap in July as consumers ramped up their spending. This boost shows that people are feeling confident and are ready to shop, despite any economic challenges. It's an encouraging trend that points to a lively retail scene as we move through the year! 🛒💸 #RetailSales #ConsumerConfidence #ShoppingSpree

The #HolidayRetail numbers are in – how did U.S. #retailers close out 2023? 🛍📈 ⬆️ Overall December #retail sales rose 0.6% from November, stronger than expected! ⬆️ #eCommerce sales played a key role in the increase, rising 1.5% as shoppers continued to move from brick-and-mortar to #OnlineRetail. ⬆️ YoY, overall December retail sales increased 5.6% – not adjusted for inflation, reflecting consumer resilience. As Reuters shares, these stats indicate economic momentum as we begin 2024: https://lnkd.in/gGvzPimy #RetailInnovation #OnlineSearch #DigitalCommerce #DigitalCommerceSearch #B2CeCommerce #B2BeCommerce

Retail sales activity surrounding the 2024 Easter season reveals so much more than holiday shopping activity. 🛒🛍️ “Current #retail purchase patterns are being led by the consumer,” says Circana’s Marshal Cohen. Are these lasting changes, or merely short-terms reactions to cumulative financial impacts and looming concerns? That is the big question facing marketers as they wrestle with the decision to make their own changes to chase the consumer, or prepare to adjust and ride the waves of change as they come. https://lnkd.in/diXAQwmK #retailtrends #consumerinsights #genmerch #cpg

Items are scanning less quickly than anticipated. Retail sales came in better than expected for June as shoppers continue to shop. But it's all relative since sales were flat instead of declining. Consumer sentiment has been on the decline so this was a tempered silver lining. Consumers have been the little engine that could. They've been the engine that's kept the bigger economic engine chugging along. But given lingering inflationary pressures, high interest rates and a shaky overall economy, consumer resilience has been put to the test in 2024. In general, retail sales were up 0.8% when excluding gas prices and auto sales. When you break it down, consumers flocked to online retailers in June, with sales rising 1.9%. In contrast, growth at brick-and-mortar stores was slower, with clothing and department stores seeing a 0.6% uptick. Sales in the home improvement sector were more robust, rising 1.4% for stores selling building materials and garden supplies. When you read between the lines, there are number of factors to consider. More consumers are focused on value, which leading many to move away from the more expensive brands and more towards private label offerings. The other is credit card use. Consumers are taking on more debt, which is increasing delinquencies, which rose to 10.7% during Q1 2024. Those numbers are negatively impacting confidence in the economy and consumer sentiment, which are likely more accurate metrics than current retail sales numbers. So while consumer spending hasn't fallen off a cliff, we're living in an era where economic metrics are a mixed bag https://lnkd.in/g3gZf4zh #retail #consumers #shopping #onlineshopping #inflation #economy

While many c-store shoppers are feeling a pinch from tighter credit and inflation, the National Retail Federation (NRF) forecast that U.S. retail sales this year will increase between 2.5% and 3.5%. With shoppers citing affordable prices and in-stock products as the top requirements for a positive in-store experience, read more about why it’s imperative for retailers to offer consumers the products they want at the prices they’re willing to pay. #convenience #conveniencestores #cstore #retail #retailers #consumers #consumershopping #forecast #downtrading