Here’s a potential trend that could cause retailers to break into a sweat: as 2023 draws to a close, some social media influencers are pledging to do away with impulsive spending habits in 2024 as part of a “no-buy year,” Business Insider reports.
As an example, the news service pointed to the widely followed sentiments posted in November by a TikToker who goes by @nobuy2024, who said she would be starting her “no-buy year” in December, as she had “a borderline shopping addiction” and wanted to document her journey to achieving financial stability. She was also hoping to connect with others who were “trying not to be influenced by consumerism in the year of 2024,” she said.
These TikTokers could be reflecting a broader trend, as Americans in general are keeping a closer eye on their money and financial habits, Business Insider notes.
Such a movement, if it becomes more widespread thanks to such factors as the resumption of student loan payments and rising credit card debt, would clearly have an impact on the retail industry. Stay tuned as the New Year progresses – Shop! will keep any eye on this budding movement.
Meantime, click here for the full BI story.
Ready to Relocate? Wilkerson Makes Your Move Seamless
When Brockhaus Jewelry decided to leave their longtime West Main Street storefront for a standalone building elsewhere in Norman, Oklahoma, owners John Brockhaus and Brad Shipman faced a familiar challenge: how to efficiently reduce inventory before the big move. Their solution? Partnering with liquidation specialists Wilkerson for a second time.
"We'd already experienced Wilkerson's professionalism during a previous sale," Shipman recalls. "But their approach to our relocation event truly impressed us. They strategically prioritized our existing pieces while tactfully introducing complementary merchandise as inventory levels decreased." The carefully orchestrated sale didn't just meet targets—it shattered them.
Asked if they'd endorse Wilkerson to industry colleagues planning similar transitions—whether relocating, retiring, or refreshing their space—both partners were emphatic in their approval. "The entire process was remarkably straightforward," Shipman notes. "Wilkerson delivered a well-structured program, paired us with a knowledgeable advisor, and managed every detail flawlessly from concept to completion."
