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, Stitcher, iHeartRadio and Spotify.
First quarter reports from retailers are coming in, and many are bracing for a year marked by economic uncertainty. Inflation is easing and consumers keep spending, but they’re prioritizing experiences like dining out and entertainment. Discretionary goods are clearly taking a back seat.
Still, retail sales in the early months of the year have been fairly robust. At the time the team recorded its podcast — and still at press time – the White House and Republican Congressional leaders hadn’t forged a debt ceiling deal. Several economists warn that a failure to get that done soon could lead to the U.S. defaulting on its debt, and that could usher in a darker period for the economy.
In this episode of The Backroom, reporters Daphne Howland and Dani James discuss how the first quarter is going for various segments and what it means for the rest of 2023.
- April retail sales rise 2.6% amid steady job market and income gains
- Online prices continue to drop: Adobe
- How DTC brands fared in Q1
- McKinsey: Consumers are trading down — and splurging
Editor’s note: This show was produced and edited by Caroline Jansen.