Thank you to CO–U.S. Chamber of Commerce for providing the content Execs from Big Brands on Wooing (Inflation-Minded) Holiday Shoppers This Year.
Retailers including Michael Kors and Kendra Scott are appealing to deal-seeking consumers with broad product assortments and special perks for the biggest buying season of the year.
Why it matters:
- Holiday spending is expected to increase 4%, but inflation means retailers will be watching their budgets carefully and looking for deals.
- Retailers can avoid relying too heavily on discounts by offering a range of merchandise at different price points, and by granting perks to its best customers, such as early access to product launches and exclusive in-store events where loyal customers can shop in a more private setting, according to retail executives.
- Online shopping will grow faster than in-store, although some retailers expect consumers to embrace in-store shopping this year in the wake of the pandemic, experts predict.
Retailers and brands are preparing for a holiday shopping season in which consumers will be shopping early and spending cautiously, according to panelists at a CommerceNext event attended by CO—.
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CO–by the U.S. Chamber of Commerce.
