Holidays 2024: MULO Experts Predict the Spending Future
Although pumpkins currently line store shelves and turkeys are being prepped for November, retailers, restaurants, and service businesses (like spas, salons, and venues that sell gift certificates) have been thinking about the December holidays for a long time.
This year, consumers are expected to spend about $241B, setting a new record.
Seasonal spending is about 26 percent of retailers’ full-year sales.
What’s changed over the past decade is that Amazon Prime Days and other MULO (multi-location) companies’ competitive responses to that promotion push consumers to spend on specific days of the year. Adding Prime Days in October will enable the retail giant and other brands to see what products consumers buy and plan the next two months accordingly.
The Amazon campaign and related promotions also reinforce the importance of discounts to many shoppers.
The Mastercard Economics Institute makes its holiday predictions based on various economic factors. But they also step out on a fashion limb with one random insight, predicting that “luxury jewelry” will be hot this season, driven by shoppers for “Millennial and Gen Z tastes.
In keeping with the theme of data-based seasonal predictions, Street Fight will publish a mini-series featuring predictions from some of the top MULO brands, tech companies, and agencies.
Watch for the first of the holiday season predictions , provided by Skai VP of Product Marketing Megan Harbold.
If you have predictions for the upcoming holiday shopping season, please reach out and we’ll send you a few simple questions to answer.
And what “gift” can you unwrap today? Check out the just-published agenda from Street Fight LIVE 2024 and gift yourself and your team with an opportunity to gain a curated and invaluable glimpse into the future of the MULO retail, restaurant, and service ecosystem.
