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NRF’s Optimistic Retail Forecast At Risk

For the last 25 years, the National Retail Federation (NRF) has kicked off the holiday shopping season in early October with its forecast for holiday retail spending, covering the critical November-December retail sales. This year, however, it waited until the end of November to make its prediction, and as per usual, it was exceedingly optimistic. […]

Louis Vuitton store

Luxury Market Will Take Years to Recover from COVID-19

Two of the world’s leading authorities on the luxury market, Boston Consulting Group (BCG) and Bain and Company, are out with their latest assessments of the impact of the coronavirus pandemic on the luxury market. Their findings are sobering, at best. What once was a shining light in the consumer market has now gone dark […]

HENRYs shopping bag

High-Spending HENRYs Will Pull Out Holiday Retail Sales This Season

I’m the first to admit that I am skeptical about the overly optimistic holiday sales forecasts that are filling my inbox. This year I am particularly surprised by how many forecasts top NRF’s predictably rosy predictions, which this year range from 3.8 percent to 4.2 percent. That’s why I nearly went into auto-delete mode when […]

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Millennials and GenZ luxury market

How Millennials and Gen-Z Are Radically Changing the Luxury Market

A new study is out that sets the stage for a radically transformed luxury market by 2025. Millennials are driving this train, and what they expect from luxury brands is radically different from previous generations. Fasten your seatbelts, it’s going to be bumpy ride into 2025. The study, produced by two powerhouses in luxury circles, Boston […]

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Four Demographic Trends Determining Retailers’ Future

Everybody in retail knows that their success depends on understanding the customer. And understanding the customer starts with understanding their demographics. Demographics is defined as statistical data describing a population or groups within it. As a result, demographic trends shape the future of the consumer market. Because those trends are linear and predictable, retailers can […]