Predicting the Future: Is 2024 the Year Retail “Normal” Returns?
Predicting the Future: Is 2024 the Year Retail "Normal" Returns?
As 2023 concludes, retail analysts anticipate trends for the industry in 2024. The preceding year saw challenges like inflation and excess inventory, posing hurdles for footwear and apparel retailers. Despite carryover effects, a return to normalcy is expected. According to BMO Capital Markets, the U.S. stock market's 2023 performance lays the groundwork for "a path of normalcy." Consumer spending, especially in discretionary categories, faced challenges but showed signs of improvement during the holiday season, signaling potential positive trends for 2024.
Consumer Value and Off-Price Sector Strength:
Analysts anticipate consumers to favor value-centric retailers in 2024. The uncertain macro backdrop enhances the appeal o...