#retail-trends

#retail-trends

New figures revealed by the consumer researchers NeilsonIQ show Gen X consumers will spend $15.2 trillion (around £11.28 trillion) this year worldwide, eclipsing the Baby Boomers' $13.5 trillion (£10.02 trillion). In fact, Baby Boomers are also likely to be outspent by Millennials (people born between 1981 and 1996) this year. Millennials' spending could reach $14.7 trillion (£10.91 trillion), knocking Boomers into third place.

Goldman Sachs valued the creator economy at around $250 billion in 2024, and have forecast it to double to around $480 billion by 2027.

Many small businesses in San Francisco have vanished due to high rents, increased competition, and high labor costs, leading to a decline in community character.

Walgreens plans to permanently shut its Codman Square location on September 10, joining a trend of closures affecting predominantly Black and Hispanic neighborhoods.

Trader Joe's is in growth mode, adding 30 new locations that will push it past 600 stores nationally. The expansion-spanning California, Texas, New York, Oklahoma, and more-is a striking contrast to the wave of retail closures hitting other chains.

You can get through most of London now without touching a coin. The bar, the bus, the cinema, even a takeaway from a late-night chicken shop, tap and go. Most people don't ask if cash is accepted anymore. They assume it isn't. Most of the time, they're right.

As malls struggle with traditional retail, Serramonte has embraced a vibrant Asian food scene, transforming itself into a culinary destination with new eateries.

Korean beauty products are moving from phone screens to UK high streets, as social media drives sales of skincare featuring eye-catching ingredients.

"Today, we no longer 'go shopping'-we are always shopping-but that hasn't made the experience more exciting. Instead, online retail has become a functional necessity, optimized for speed but stripped of surprise and spontaneity."

As people tighten their budgets, stores like T.J. Maxx could become even more popular, indicating a shift towards budget-friendly home decorating options.

Walmart maintains its dominance with over 21% of US grocery spending, having more than twice the market share of its closest competitor, Kroger.

As average flock sizes increase, customers are learning the challenges of raising chickens, with many new buyers unaware of the costs involved in maintaining a poultry.

Amazon's absence of first-party Nintendo Switch products marks a significant shift, directly affecting preorder availability and limiting access to popular Nintendo titles for US customers.