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Consumers are increasingly focused on value, shifting their spending behaviors to stick to a budget amid economic challenges. In July 2024, U.S. retail sales across general merchandise and CPG products stabilized, with overall sales revenue matching last year's levels despite a slight decline in unit demand. Food and beverage categories saw modest revenue growth, while discretionary spending, especially in apparel and accessories, faced declines as consumers prioritize needs over wants. Retailers and marketers are urged to adapt to these shifts, as consumers explore new channels and reassess brand loyalty in response to financial pressures.

Retail sales performance is beginning to show signs of stabilization. ⚖ Shoppers are striking a balance in their budgets and are responding to promotions. 💳 However, it is only the older consumers who are increasing their discretionary retail spending. ⭐ As Circana’s Marshal Cohen points out, consumers are willing to spend when the right price aligns with their current needs. 💡 Retail marketers need to think about how to address those unique moments with consumers across all age groups. #RetailSales #RetailTrends #ShopperBehavior

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

📈 Retail Update: U.S. retail sales held steady in June, matching May's 1% growth. Unit demand remained consistent with last year, signaling a move towards consumer spending stabilization, according to Circana™. 👉 Key Insights: - Consumer Behavior: Shoppers are budgeting wisely, seeking value while splurging occasionally. - Top Performers: Little luxuries and innovative products like lip makeup and portable beverageware are thriving. - Future Trends: Consumers crave new food and beverage products, making it crucial for brands to resonate with their needs. Reach out to us if you need help uncovering reasons for consumers to choose your brand. #MRX #Retail #ConsumerTrends

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? Get the full story below 👇 #Easter #retail #toys

Consumer spending warnings ahead of major retailers’ earnings reports this week and next week: Placer.ai released store visits data for 1Qtr2024, and it looks like visits to only discounters increased compared to last year. According to the report, the following retailers saw visits increase in the first quarter: Walmart, Sam's Club, Target, Costco Wholesale, BJ's Wholesale Club, Ross Stores, Inc., TJMaxx, MARSHALLS LLC, HomeSense, etc. Store visits decreases, for example, include the home improvement category The Home Depot and Lowe's Companies, Inc. In 2024, Easter fell on Sunday, March 31, earlier than usual, so you can’t look at individual month’s sales and traffic to determine the health of consumers this year. Looking at the full first quarter gives you a more accurate read of retail performance. The National Retail Federation estimated that consumer spending increased 2.5% in the first quarter compared to last year, which did not keep pace with inflation.

According to the National Retail Federation, consumer spending increased 2.5% in the first quarter compared to last year. While gross domestic product did not increase as much as previous quarters, consumers continued to spend to start the year. According to Placer.ai data, the following retailers saw visits increase in the first quarter: Q1 visits at Walmart were up 3.9% year-over-year (YoY), and at Sam’s Club, they were up 6.1%. Walmart’s YoY visits were down 2.7% in April, up 7.7% in March, and up 4.4% in February. Sam’s Club’s visits were up 1.9% in April, up 8.2% in March, and up 6.9% in February. Q1 visits at Target were up 3.5% YoY. Visits were up 1.4% in April, up 6.3% in March, and up 5.3% in February. Q1 visits at Costco were up 8.9% YoY. Visits were up 9.2% in April, 10.5% in March, and 10.9% in February. Q1 visits at BJ’s Wholesale Club were up 5.6% YoY. Visits were up 0.4% in April, 9.5% in March, and 8.3% in February.

Retail sales show signs of stabilization. 🛍️ Older shoppers are striking a balance in their budgets and diving into deals, resuscitating sales that were once on pause. As Circana’s Marshal Cohen points out, consumers are willing to spend when the right price aligns with their current needs. Marketers need to tailor strategies to address consumers spanning all ages in these unique moments. Explore the full story in the latest Circana blog.

Retail sales show signs of stabilization. 🛍️ Older shoppers are striking a balance in their budgets and diving into deals, resuscitating sales that were once on pause. As Circana’s Marshal Cohen points out, consumers are willing to spend when the right price aligns with their current needs. Marketers need to tailor strategies to address consumers spanning all ages in these unique moments. Explore the full story in the latest Circana blog.

Questions about your pricing strategy? Circana can help! Reach out to me or you account manager, we have a variety of options to fit your needs. #circana #marketresearch #consumers #retail #pricing #promotions #discounts #trends