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Since the 2008/2009 recession, China has effectively become the tail that wags the dog of the global luxury market.That’s because China was largely unaffected by the economic downturn that battered the market throughout the rest of the world. Not only that, Chinese consumers, with their growing economic power, expressed a heady appetite for luxury brands […]
The coronavirus shutdown has forced a reset to consumers’ purchasing behavior across the globe and at every income level. In a blink of the eye, consumer spending shifted from discretionary to necessity purchases and has remained that way throughout the months of the shutdowns.With luxury being the most discretionary of all consumer purchases, it was […]
A few weeks ago, Whole Foods CEO John Mackey incited indignation among employees suggesting they should donate paid time off to their fellow workers who suffer prolonged periods out of work due to illness or death in their family.It resulted in a Change.org petition for Amazon, which owns Whole Foods, to give all employees more paid […]
On March 13, American consumer confidence saw the largest single-day drop in more than two years, continuing a downward trend that began earlier this month, as measured in a daily survey by Morning Consult. Under normal circumstances, the company releases its Index of Consumer Sentiment (ICS) weekly, but because of the national emergency caused by […]
In retailing, it is easy to observe rapid-fire changes in shoppers’ purchase behavior. A big sale sign brings people in to shop who otherwise would have walked by. A new more convenient or time saving service, like buy online, pick up in store, gets people to switch from the old ways of shopping to new […]
Speaker, author, and market researcher Pamela N. Danziger is internationally recognized for her expertise on the world’s most influential consumers: the American Affluent. As founder of Unity Marketing, Pam leads with research to provide brands with actionable insights into the minds of their most profitable customers.
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