Reuters World News The evolving face of retail
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Nov 30, 2024 Arriana McLymore, a Reuters journalist specializing in e-commerce, and Siddharth Cavale, known for his insights on big box retailers, delve into the shifting retail landscape as the holiday shopping season kicks off. They discuss how Black Friday has transformed, driven by online shopping trends post-pandemic, and explore the aggressive marketing tactics of companies like Timu and Shein. Additionally, they highlight the role of AI in revolutionizing supply chains and offer tips for navigating potential price hikes during the holidays.
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Black Friday's Changing Role
- Black Friday remains the biggest shopping day, but online shopping and early holiday deals have lessened its importance.
- It's now less about in-store shopping and more about online deals starting as early as October.
Online Shopping Dominance
- Online shopping allows for easier price comparison and convenience, driving its popularity.
- Mobile shopping and the search for deep discounts are major trends this holiday season.
Bifurcated Consumer Spending
- Upper-income households are driving retail spending, while lower-income households are more selective.
- Even retailers like Walmart are seeing a shift towards higher-income customers.