Retailers and brands would be wise to calibrate their sales and promotional strategies this year, as cost-conscious consumers adjust their holiday shopping behaviors.
Ongoing economic uncertainty, combined with consumers’ increasing adoption of e-commerce and expectations for high levels of customer service, are among the factors shaping the year-end gift-buying landscape, analysts told CO—.
“We will see price-sensitive consumers, even though they will likely spend more this holiday season,” said Steve Rogers, Managing Director of Deloitte’s Consumer Industry Center. “After two years of inflation, perception is the rule. So, price [driven] messaging will be necessary.”
