RTH - 3 Retail Trends For 2024

2024-02-23 08:00:00 ET

Summary

• Consumers are shifting spending to services like restaurants, travel, and concerts and away from goods.
• There are significant differences between spending on consumer discretionary and consumer staples.
• As more consumers utilize online shopping, retailers should benefit from higher profitability.

Explaining consumer spending involves a lot of contradictions. Consumer spending is strong. But consumers are stretched. Consumers are shifting spending to services like restaurants, travel, and concerts and away from goods. But certain goods like consumer staples should remain strong in economic downturns. E-commerce has been resilient relative to total retail sales. But only for certain segments. This note discusses those contradictions along with retail trends for 2024....

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