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 […]
Archive | Consumer Psychology
RSS feed for this sectionRetail Is Sick: It’s Time for Wellness
I recently participated in a retail webinar on wellness. My main message was that retailers limit themselves if they think of wellness just in terms of products consumers use, wear close to their body, put on their skin or decorate their homes with. All retailers, nonessential and otherwise, have been massively disrupted during the nationwide coronavirus […]
Future-Proofing Luxury Brands After Coronavirus
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 […]