Amid Alibaba’s declining profits, the eCommerce giant is seeing its online shoppers’ spending habits depend heavily on how trustworthy they feel the platform is. On a call with analysts Tuesday (May 17) discussing the Chinese multinational technology company’s most recent quarterly earnings report, CEO Eddie...
Consumers are increasingly buying clothing from third-party digital marketplaces, forcing more retailers to close shop. Most recently, Ted Baker’s North American business announced Friday (May 10) that amid bankruptcy proceedings in the United States, it is closing 40 locations across the U.S. and Canada, kicking off liquidation sales. It also announced...
Bank of America’s CEO says consumer spending is still healthy despite steep interest rates. Spending has risen between 3% and 4% this month compared to a year ago, Brian Moynihan said in an interview with Bloomberg News Monday (May 13). He added that uptick is indicative of a slower-growth, lower-inflation...
Consumers are girding for inflation to settle in over the long haul. But they intend to keep spending. As reported on Monday (May 13), the Federal Reserve Bank of New York’s Center for Microeconomic Data detailed that, per the April Survey of Consumer Expectations, inflation’s expected to be higher one...
May 14, 2024
Consumers are increasingly buying clothing from third-party digital marketplaces, forcing more retailers to close shop. Most recently, Ted Baker’s North American business announced Friday (May 10) that amid bankruptcy proceedings in the United States, it is closing 40 locations across the U.S. and Canada, kicking off liquidation sales. It also announced closing sales at eight Brooks Brothers locations and seven Lucky Brand stores in Canada. […]
May 13, 2024
Consumers are girding for inflation to settle in over the long haul. But they intend to keep spending. As reported on Monday (May 13), the Federal Reserve Bank of New York’s Center...
May 13, 2024
Card-linked offers — promotions intended to entice consumers to use their credit and debit cards — are incredibly popular with consumers. That is, once they use them. According to PYMNTS...
May 10, 2024
They’re probably not going to Paris to see Taylor Swift. But spending among older, high-income consumers has led a Q1 travel surge that cuts across income and age boundaries, even if...
May 14, 2024
Bank of America’s CEO says consumer spending is still healthy despite steep interest rates. Spending has risen between 3% and 4% this month compared to a year ago, Brian Moynihan said in an interview with Bloomberg News Monday (May 13). He added that uptick is indicative of a slower-growth, lower-inflation landscape, but still a bright spot for the American economy, […]
May 12, 2024
Consumer caution at restaurants is reportedly dampening business at fast-casual eateries. As Bloomberg News reported Saturday (May 11), restaurants such as Red Lobster — which is mulling bankruptcy — and TGI...
May 10, 2024
McDonald’s is reportedly encouraging franchisees to vote to implement a $5 meal deal to bring back consumers who have left because of high prices. Franchisees — which can weigh in on major...
May 08, 2024
With revenues sliding, Qurate Retail is focused on women over 50 and their discretionary income. The parent company of QVC and HSN on Wednesday (May 8) released quarterly earnings showing its revenues declining 4% year over year,...
