Over the last few years we have witnessed shopping patterns take many twists and turns.

This week, we’ll look at the latest insights on shopping trends and how they impact holiday forecasts and Predictions for 2023.

THIS WEEK’S HIGHLIGHTS

  • Amazon hot seat: FTC, 17 states sue Amazon for ‘exploiting its monopoly power’.
  • Doorcounts is becoming Trakwell.ai: Click HERE to learn more.

  • OUT NOW – Q2 2023 Benchmark Report: Click HERE to see how your store compares to the industry average.

FOOT TRAFFIC INDEX

FOOT TRAFFIC TRENDS

Industry insights so you can convert your foot traffic into more sales.

The truth about retail shrink

Retail theft has caught the attention of the masses in recent years, from startling smash-and-grab videos during the depths of the Covid pandemic to corporate earnings calls where retailers like Target and Foot Locker are discussing losses from organized retail crime more than they ever have.

Despite the increased media attention, the effect of theft on retailers’ bottom lines is about the same as it has been for years, according to the latest data released by NRF.

Retail shrink climbed in absolute dollars, but when reported as a percentage of sales as is commonly done, average annual shrink increased to 1.57%, up from 1.44% in 2021. The share is largely in line with past years. Average annual shrink was 1.62% of sales before the pandemic in 2019, though it was as low as 1.33% in 2017, according to previous surveys.

Click HERE to read more.

Consumer confidence tumbles

Despite over 449,000 jobs being added into the economy between June and August, consumer confidence took a major hit in September.

Consumer confidence index fell to 103 in September from 108.7 in August. The index is at its second-lowest level this year, landing just above May’s 102.5 reading, according to Conference Board data.

Analysts were expecting a smaller decrease, to a reading of 105. Confidence fell amung all age groups, but was most profound among consumers who make over $50,000 a year.

Click HERE to learn more about the current state of consumer confidence.

Retail Snippets

Carbon neutral: Walmart launching “mini-retail experience” for travelers.
 
Amazon hot seat: FTC, 17 states sue Amazon for ‘exploiting its monopoly power’.


Supply chain: Can nearshoring prevent the next supply chain crisis?

Random Irrelevance

Chipotle bot: Chipotle’s new robots can make nearly 200 burrito bowls an hour.

 
Flying Solo: Amateur astrophotographer captures rare Jupiter explosion.


Social Shopping: Indonesia to ban purchases on social media like TikTok, says it will further regulate e-commerce