As in Dicken’s Tale of Two Cities, when we write the story of retail in 2020 it is going to be the best of times for one group of retailers – those deemed essential – and the worst of times for others – non-essential retailers. Two new studies, one from IBM projecting retail through year-end […]
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RSS feed for this sectionHow Consumer Values Have Shifted in Covid Pandemic Challenging Brands To Find Their Purpose
For years companies have been looking for ways to contribute in meaningful, measurable ways to society and the environment. That need for corporate purpose beyond just making money has only accelerated since the Covid pandemic hit. A survey among 1,000 corporate employees conducted by McKinsey back in October 2019 found that 82% said it is […]
What Jeff Bezos Knows About Consumer Psychology That You Don’t
Years ago, Jeff Bezos famously said: “I very frequently get the question: ‘What’s going to change in the next 10 years?’ And that is a very interesting question; it’s a very common one. I almost never get the question: ‘What’s not going to change in the next 10 years?’ And I submit to you that […]
How Consumer Spending Fared So Far Through 2020: Not Well
By now, you’ve heard the news that the GDP contracted 32.9% in the second quarter on an annualized seasonally and inflation-adjusted basis, following a 5% decline in first quarter. Personal consumption makes up over two-thirds of the GDP and it dropped even more precipitously, down 34.6% on an annualized basis. This quarter marks the economy’s […]
Luxury in a Post-Covid World
Letting no crisis go to waste, the MBB big-three consulting firms – McKinsey & Company, Boston Consulting Group, and Bain & Company – have all come out with their post-coronavirus predictions for the luxury market. I’ve spent hours digesting their reports, including interviewing Bain’s Claudia D’Aprizio, who is arguably the world’s leading authority on the […]