Tracking Consumer Behavior Changes in Q3 2023 and 2024
The possibility of a recession in 2023 for the U.S. economy appears to be diminishing, with potential economic growth anticipated for 2024. Nevertheless, the U.S. economy continues to face obstacles, as consumers are likely to exhibit a reduction in spending during the fourth quarter of 2023.
Industries may undergo a pullback in consumer spending at differing times and degrees. Understanding where your business falls in the economic cycle will be vital to effectively navigating shifting consumer behavior.
Danielle Marceau, Principal Economist and the Director of Analytics at Prevedere, recently discussed changing consumer behaviors in Q3 2023 and 2024 in a webinar now available on demand. She addressed the most critical topics about growing revenue in the next year, including:
Why consumer spending could slow toward the end of 2023
Whether the economy will get worse before it recovers
Strategies to combat changing behaviors
Watch the webinar to learn more.
About Prevedere, Inc.
Prevedere is the world’s leading provider of predictive analytics technology and solutions based on econometric modeling, enabling intelligent enterprises to understand and quantify the impact of external factors as part of their strategic planning and forecasting. Our global data repository and patented AI platform enable financial executives and operational planners to identify market drivers, quantify the future impact of economic volatility, generate performance forecasts, and optimize plans based on market foresight.
Prevedere’s automated AI model monitoring provides an early warning system when unplanned market shifts and anomalies are predicted, enabling planners to future proof business performance. Many of the world’s leading consumer packaged goods, retail, logistics, and manufacturing companies leverage Prevedere to generate economic intelligence, spot market opportunities, mitigate risks, and deliver exclusive competitive advantage.