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A “Swift” Recovery: Retail Trends to Watch in ’24

Economic uplift from Taylor Swift tour among events offering insights into next year’s opportunities.

Published

6 months ago

November 21, 2023

INSTORE Staff

A “Swift” Recovery: Retail Trends to Watch in ’24

PHOTOGRAPHY: Ogulcan Aksoy/iStock.com

The year that’s ending was a tumultuous one for retailers (and others), as inflation, high interest rates and general economic headwinds continued constraining consumer behavior. Still, 2023 also revealed many bright spots across a variety of consumer-facing sectors, from retail to dining to advertisement to entertainment.

Many of these developments, in turn are likely to shape the wider consumer landscape in the coming year, Placer.ai reports in its latest white paper, “8 Retail Trends to Watch in 2024.”

“The retail lift from Taylor Swift’s Eras Tour revealed the appetite for socializing-based entertainment, while the pull of Coach [Deion] Sanders revitalizing the football program at Colorado showed that college football can also create major retail opportunities,” the report notes. “The popularity of second-hand apparel highlighted the promise of eco- and budget-friendly retail concepts.

“Placemaking in retail and real estate, along with the success of experiential dining and entertainment concepts, emphasized the power of investing in consumer engagement. Consolidation helped certain grocery companies reach new audiences, while expansion helped dining brands solidify their standing in key growth markets.

“Retail media networks continued gaining momentum. And the impact of COVID continued receding in certain critical areas.”

Click here to register to download a copy of the report, which does a deep dive into how those events and trends will shape 2024 for retailers.

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”