Winning With Shopify Ecommerce in 2025: Expert Insights with Laurence Turner from Bloomberg
Jan 17, 2025
Laurence Turner, an Economics expert at Bloomberg, shares his insights on the retail landscape as we look toward 2025. He contrasts the US and UK markets, analyzing how economic shifts influence global supply chains and tariffs. The discussion dives into the evolving consumer behavior and identifies strategic opportunities for retailers. Laurence elaborates on innovative pricing strategies amid inflationary pressures and emphasizes the need for leveraging data to stay competitive. Tune in for crucial takeaways that can help businesses thrive!
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UK vs US Retail Trends
- The UK and US online retail markets are moving in different directions due to differing economic and political influences.
- The UK consumer confidence appears muted while US consumers remain resilient despite inflation and changing administrations.
Impact of US Tariffs on Retail
- Tariffs in the US, especially a proposed 60% tariff on China, significantly affect supply chains and consumer prices.
- Retailers must decide whether to absorb increased costs or pass them to consumers, impacting demand.
US Businesses Shift Production
- Some US businesses shifted from importing finished products from China to importing materials and producing domestically.
- This approach addresses tariff impacts but involves higher local labor costs and logistics changes.