Sumary of Cost of living crisis to impact holiday season turnover:
- Others will be waiting for the discounting season to commence, which this year could be the silver lining for consumers on a compact budget, as retailers struggle to offload inventory.
- Brands that emphasize their marketing investments on searchable content that demonstrates consumer value will prevail, Jacquelyn Baker, king commerce experience officer at VMLY&R Commerce, told The Drum, a publisher for the marketing industry.
- Consumers will be waiting for the very best deals and Black Friday and Amazon Prime day could be big bonanza periods for brands.
- A good example for retailers and brands is to look at data from the financial crisis of 2008-2010, where shoppers eschewed big ticket items and instead gravitated to small, affordable luxuries, like fragrances and accessories.