With consumers feeling financial stress, a new Deloitte survey finds holiday spending will be off 7%. On a positive note, consumers will spend less traveling and dining out and will indulge in more self-gifting.
Archive | October, 2020
Retail Bankruptcies: Next On the Chopping Block
Following the 2008/2009 recession, major retail bankruptcies reached historic highs in 2010, setting the record with 48 filings. Through September this year, we are still 16 filings short of matching that record, after some 32 retailers have filed to date. BDO’s David Berliner, who leads the firm’s business restructuring and turnaround practice, predicts the 2010 […]
Louis Vuitton Face Shield: Tacky Luxury Status Symbol or Essential Fashion Accessory for Post-Covid World?
Ever since the coronavirus pandemic broke out, luxury brands have heeded the call to action. With protective gear for frontline medical workers in short supply globally, brands repurposed their factories to manufacture face masks and hospital gowns, as well as made financial donations. LVMH, the world’s undisputed luxury leader, was first out of the block […]
How SmartGift Cracked the Code in Online Gifting
While we await the National Retail Federation’s holiday retail forecast – which will come any day – Deloitte and Forrester are out with their predictions for holiday 2020 and year-end. Big Four accounting firm Deloitte has a “glass half full” view, expecting a rise in holiday retail sales between 1% to 1.5%. On the other […]
