Holiday trends & predictions 2019: How to prepare when consumer confidence wanes (part 1 of 5)
With less than a month before the holiday season officially starts, retailers should be excited about consumer spending potential over the busiest time on the retail calendar.
Holiday spending has been steadily increasing for eleven years, with total spend reaching a record-breaking $700 billion in 2018, according to the National Retail Federation.
However, many businesses are entering this season with a combination of pessimism and uncertainty. They see the ongoing trade war and recent drops in consumer confidence due to economic concerns and job market decline as signs that 2019 may be the first holiday season in over a decade where spending actually decreases.
As wallets tighten, we’re closely watching trends and analyzing consumer insights in the lead up to the holiday shopping period to help retailers arm themselves with the tools for a successful holiday season.