Welcome to The Backroom, a window into what goes on behind the scenes as the Retail Dive team covers the stories and trends reshaping retail. You can check out all our podcast episodes (past and present) here and listen on Apple Podcasts, iHeartRadio and Spotify.
The holiday retail season is slowly but steadily approaching – or already here. Amazon and other retailers have already held sales events, and analysts expect more attempts to gain consumers’ attention.
The most effective lure this year is likely to be discounts. The middle class has been under pressure for a while, and the boost that pandemic-related relief gave to their savings is mostly over. Meanwhile, costs are up, including, for many, student loan payments that must resume after the Supreme Court nixed the Biden Administration’s forgiveness program. Moreover, as consumers with limited budgets make tough choices about spending, they are often prioritizing experiences like travel, dining out and events like concerts.
Retailers may have hoped that, once vaccines subdued the pandemic and ushered in a post-shutdown era, certainty would take hold. But uncertainty is poised to overshadow this season.
Still, the many traditions that celebrate this time of year focus on light. At any time of uncertainty, that’s hopeful. Join our team for this episode of The Backroom, as they discuss what’s in store for the holidays this year.
- Holiday spending to surpass pre-pandemic levels: Deloitte
- What holiday hiring efforts look like in 2023
- Credit card debt tops $1 trillion, before the holidays even arrive
- Why holiday spending is going to the dogs
- September retail sales signal tepid holiday spending
Editor’s note: This episode was produced and edited by Caroline Jansen.