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Business Wars
Shopping in the Social Media Age | 4
Dec 26, 2024
Jordyn Holman, a retail reporter for The New York Times, and Kitty Guo, a gifting writer for The Strategist, dive into how TikTok is revolutionizing holiday shopping. They discuss trends like 'de-influencing' and the rise of 'quiet luxury,' where consumers prefer meaningful gifts over impulse buys. The guests explore how emotional ties and nostalgia are still vital in gift-giving, even as social media simplifies purchases. Insights into shifting consumer attitudes towards authenticity and the contrasting fates of Walmart and Target complete the conversation.
31:56
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Quick takeaways
- Social media, especially TikTok, has revolutionized holiday shopping by emphasizing peer recommendations and driving viral trends that impact consumer choices.
- The trend of 'quiet luxury' is shaping gifting behaviors, as consumers favor personalized and high-quality items over flashy branded products.
Deep dives
Holiday Spending Trends
The National Retail Federation projects holiday spending to reach $998 billion, marking a return to pre-pandemic shopping behavior. With wage growth outpacing inflation, there is optimism among retailers for increased in-person and online purchases. Sales growth is expected to hit between 2.5 to 3.5 percent compared to last year. The early onset of holiday marketing, with some retailers launching gift guides in October, reflects a strategic push to meet consumer demand.
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