Five Ways That Retailers Can Maximize Sales Despite Slowing Consumer Spending.
As the economy hits recession territory and consumer sentiment falls to an all-time low, the most likely outlook is that consumer spending will continue to weaken into Q4 2022 and retailers will be faced with the most challenging holiday shopping season in more than a decade. So, how can a retailer still “win” this holiday season, even if spending across the industry shrinks?
Danielle Marceau, the Director of Analytics on Prevedere’s economic team, discussed proven strategies that can lead to revenue growth for retailers during the holiday shopping season even if overall spending declines.
Danielle covered the following topics:
- The current outlook for the holiday shopping season
- Key consumer behaviors that retailers should be monitoring over the second half of 2022
- Ways to identify whether consumers will choose to shop online or visit brick and mortar stores
- Why promotional strategies will be the key to success for many retailers
- How implementing Advanced Predictive Planning into forecasting and planning strategies can lead to sales growth for retailers this holiday season
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.