Matt Katz shares his perspective on what’s ahead for the 2023 holiday shopping season in this Retail TouchPoints report.
Matt explains how consumer spending will be different this year, “We’ve had mixed signals over the last several years, yet the holidays have been pretty resilient. Yes, there are headwinds like inflation [this year], but there’s very high consumer confidence and markets are responding to that. A good indicator of how people feel is that travel is back, which also means that experiences and experiential retail will be very important. Because of all these things, gift-giving may be more functional than the extravagant purchases of the past. There’s still a limit on spend.”
He emphasizes the importance of retailers spending their money in the right places, “Retailers need to “buy smart” early to avoid problems later, as well as continuously monitor sales and inventory data throughout the holiday season. Having information at your fingertips so your team can act with swift agility is really important, but it won’t be helpful if it’s the end of the holiday season and you still have a glut of inventory.”
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