nother CPI report, another long sigh of frustration from consumers across the country. Inflation abated just 1/10th of a percent in April according to the latest report from the Bureau of Labor Statistics as food price inflation rose 2.2% and food-away-from-home prices leapt 4.1%.
The future is collaborative, but not in the way most consumers are prepared for – rather, it’s their data that will be collaborating with stores and retailers with whom they’ve opted in, shared their browsing and purchase histories, and whittled down their preferences.
As the calendar turns toward a new year, many consumers continue to watch their budgets closely. And that factor is shaping retail strategies for 2024.
Inflation is lingering like an in-law overstaying their welcome. As a result, consumers are demanding deals as they make vacation plans for summer 2023.
In-store retailing has remained the largest channel by far even after two decades of growing digital shopping, but the brick-and-mortar experience still needs to evolve to keep up with new expectations.