The Economics of Consumer Behavior

As the retail industry continues to evolve, understanding the broader economic landscape has never been more important. On this episode of Retail Gets Real, two of NRF’s top economic minds — Chief Economist Jack Kleinhenz and Executive Director of Research Mark Mathews — join the podcast to break down what’s driving the U.S. economy, what to expect for the second half of 2025 and what it all means for retailers and consumers.

(00:00:00) Reflecting on 15 years of economic insight

(00:06:40) Forecasting through uncertainty

(00:08:16) The rise of AI and the future of retail

(00:09:47) The real impact of AI on retail and jobs

(00:12:46) Navigating a globalized retail economy

(00:18:45) Advice for students, book recs and a look back

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Resources:

• Get ready for Retail’s Big Show in NYC

• Become an NRF member and join the world’s largest retail trade association

• Learn about our retail education platform, NRF Foundation, at nrffoundation.org

• Learn about retail advocacy at nrf.com/advocacy

• Find more episodes at retailgetsreal.com

Related:

• Data ‘Remains Strong’ But Public Policy Uncertainties ‘Blur the Economic Outlook’ for 2025

• NRF Chief Economist Says 2024 ‘Ended on a High Note’

• Economy Still Growing Despite Tariffs But ‘A Lot of People Have Recession on Their Minds’