With hope of a less stressful holiday season, consumers have shopping on their minds. In fact, according to a webinar from Digital Commerce 360, 26% of shoppers plan to buy earlier than usual this year and 37% plan to start before October (which is now!) In a recent projection by Deloitte, retail sales could rise 7%-9% on top of 2020’s 5.8% growth.
Industry insights 4 min readRevenge on the pandemic: How consumers are spending their money
As businesses and travel open back up, I began to wonder how the shifting times would affect subscriptions, and more broadly, how consumers spend their money. As I started my research I quickly came across an unfamiliar term: “revenge spending.” At first glance, I thought this might have to do with getting back at an ex—I expected shopping sprees, expensive beauty treatments and weekend getaways to follow. While I wasn’t that far off, I came to understand “revenge spending” had nothing to do with getting back at another person but instead revenge on something we are all familiar with: the pandemic.