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On a Black Friday edition of a podcast, the guests discuss a range of topics including shopping on Black Friday, holiday shopping outlook, consumer health, jobs in the hospitality industry, sports gambling earnings and outlook, Black Friday game in NFL, water scarcity, AI transformations, impact of automation in hospitality and retail industries, and the significance of physical retail during the holiday season.
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- Consumers remain price-sensitive due to inflation concerns, leading to heavy promotions and discounts in the retail industry.
- The integration of physical and digital retail experiences is driving the success of various retail sectors, with gift cards being popular for their flexibility.
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Holiday Shopping Expectations: Strong Thanksgiving Weekend with Increased Spending
According to ICSC, $130 billion is expected to be spent during the Thanksgiving weekend, a 4% increase from last year. Consumers remain price-sensitive due to inflation concerns, leading to heavy promotions and discounts. Discount department stores are expected to perform well, and gift cards are popular due to their flexibility. The integration of physical and digital retail continues, with retailers encouraging in-store pick-ups for online orders. Occupancy rates in malls and open-air retail spaces remain high, and physical retail continues to be an important part of communities.
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