SCC - U.S. Consumer Spending Preview: Q1 2020
By Jharonne Martis.
Retailers are getting ready to report Q1 2020 earnings. As they navigate through uncharted territory, many are withdrawing their earnings guidance. The coronavirus pandemic has also prolonged retail store closures all over the world. However, some U.S. states are reopening for business, including such retailers as Macy's (M) and Best Buy (BBY).
However, consumer shopping patterns have definitely been affected by the pandemic, underlying the importance of having a solid omnichannel experience. Shoppers are gravitating to online shopping and mobile devices for deliveries and curbside pickup.
Here are some highlights as we