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☆ Holiday spending isn't expected to rise this year. We still like our retail setup
▼ + stars: | 2023-11-10 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

The bad news: Consumers aren't expected to spend more this holiday season. With spending in line with last year, this holiday shopping season becomes a market share story — a zero-sum game. Foot Locker (FL) has issues outside of the holiday season such as an inventory glut, an overreliance on Nike (NKE) and the need to shut down unprofitable stores. We see no reason to change our 4 rating on both stocks ahead of the holiday season. Bottom line We are in a good position to benefit from how discretionary dollars will be spent this holiday season.

Persons: Morgan Stanley, Locker, Estee Lauder, Foot, Jim Cramer's, Jim Cramer, Jim, Christopher Dilts Organizations: Shoppers, Target, Walmart, Costco, Nike, TJX Companies, CNBC, Bloomberg, Getty Images Bloomberg, Getty Locations: Chicago , Illinois

☆ Unlocking the future of the web
▼ + stars: | 2023-11-02 | by ( Sponsor Post | Created Insider Studios With Pwc | ) www.businessinsider.com time to read: +8 min

Web3 technologies, like extended reality and crypto, allow Chipotle to offer more rewarding and innovative loyalty programs. The current bear market in crypto and web3 has been a good thing for customer experiences. Once the goal is clear, this will guide which web3 technologies and strategies can form the right solution. It's a promising new technology that has the potential to revolutionize the way businesses interact with customers. Crucially, web3 isn't a "nice-to-have": It's something all businesses need to adopt to thrive in the future.

Persons: web3, John Rolston, Web3, Rolston, Chipotle, We're, Matthew Blumenfeld, " Blumenfeld, Katie Forrest, Forrest, It's Organizations: Gen, Insider Studios Locations: cryptocurrency, web3

☆ Procter & Gamble tops earnings, revenue estimates even as higher prices drive some consumers away
▼ + stars: | 2023-10-18 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Procter & Gamble on Wednesday reported quarterly earnings and revenue that topped analysts' expectations, despite volume falling for the sixth consecutive quarter. The company's organic revenue increased 7% in the quarter, helped by higher prices for P&G's products. But the company's volume shrank 1%. The company now projects revenue growth of 2% to 4%, rather than its prior forecast of 3% to 4%. P&G reiterated its full-year forecast for organic revenue growth, which strips out the impact of acquisitions, divestitures and foreign currency, and for earnings per share growth.

Persons: Jon Moeller, Gillette Organizations: Procter, Gamble, LSEG, Venus Locations: Compton , California

☆ 48% of Gen Zers will do their holiday shopping on TikTok, Instagram this year—they trust the 'wisdom of their friends,' expert says
▼ + stars: | 2023-10-17 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

Americans between the ages of 18 and 29, a majority of which are Gen Z, have already gotten a jump on their holiday shopping, according to a recent Shopify-Gallup Survey. And almost half, 48%, say they will do at least some of their year-end buying on social media platforms like TikTok or Instagram. For brands attempting to capture the Gen Z customer, a compelling social media presence is key. About 86% of Gen Z shoppers say social media sways their buying decisions, according to a report by ICSC. For Gen Z, a product is cool because the right person — usually one who came across their TikTok feed — has it.

Persons: Savannah Wei Shi, Shi Organizations: Gallup Survey, ICSC, Shoppers, Santa Clara University Locations: Instagram, Young, Savannah

☆ Google's contracts with browser makers blocked us from distribution, says rival search engine DuckDuckGo
▼ + stars: | 2023-09-21 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

Google's exclusive contracts proved to be an "obstacle" for DuckDuckGo in pitching browsers on becoming the default search engine for their private browsing modes, DuckDuckGo CEO Gabriel Weinberg testified in federal court on Thursday. DuckDuckGo, known for its privacy-centric search engine that rivals Google's, had at some point pitched its search engine to be the default in private browsing modes of other browsers, Weinberg testified in Washington, D.C., District Court. "We thought it was a great pitch to browsers, honestly," Weinberg said during questioning by an attorney for the Justice Department. DuckDuckGo's own research has found that many consumers aren't aware that private browsing modes do not provide as much tracking protection as they would expect. Weinberg said the company presented that information to browser makers, showing that private browsing can mislead consumers, offering DuckDuckGo as a solution to that problem.

Persons: Gabriel Weinberg, DuckDuckGo, Weinberg Organizations: DuckDuckGo Inc, Washington , D.C, Google's, Google, Department of Justice, Justice Department Locations: Washington ,

A shopper looks at displayed food at a supermarket ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 22, 2022. "It feels like our consumers are asking for sustainability but they are not looking to compromise on price or quality." Scope 1 refers to a company's direct emissions, Scope 2 to indirect emissions from purchased energy while Scope 3 refers to all other indirect emissions, for example from a company's third-party suppliers. A joint study by consultant McKinsey and data firm NielsenIQ earlier this year found that 78% of U.S. consumers say a sustainable lifestyle is important to them. "We will go our own course as a company, but we have to communicate (with shoppers)."

Persons: Jim Vondruska, Clark, Oriol Margo, Kimberly, Frans Muller, Ahold, Albert Heijn, Richa Naidu, Elaine Hardcastle Organizations: REUTERS, Consumer, Shareholders, Nestle, Walmart, Reuters IMPACT, McKinsey, Thomson Locations: Chicago , Illinois, U.S, Kimberly, London, Netherlands, United States

☆ Consumers aren't even close to being tapped out. Here's why, and what that means for the stock market.
▼ + stars: | 2023-08-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Most projections for a stock market decline hinge on a weakening US consumer. Bearish investors cite $1 trillion in credit card debt, upcoming student loan payments, and a depletion of excess pandemic savings. But the US consumer has plenty of capacity to spend, and that's great news for the stock market. In reality, US consumers have plenty of firepower left to spend money, grow the economy, and drive the stock market higher. And given that consumption makes up about 70% of GDP, this strength should continue to flow through to the economy and stock market.

Organizations: Service, Bloomberg Mortgage Locations: Wall, Silicon

☆ With retail companies reporting consumer weakness, Cramer says stick with tech
▼ + stars: | 2023-08-23 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Wednesday discussed Wall Street's attitude toward consumer-focused companies, saying that consumer weakness has sent the stock of many companies shooting down. "Right now, that's enterprise hardware and software, which are suddenly on fire again." Cramer mentioned several companies he thinks are down because of consumer weakness, including Macy's and Target . Cramer also named Capri , Tapestry , Nike and Foot Locker , saying consumers aren't paying for expensive apparel. The apparel companies reporting well, Cramer said, are ones that sell marked-down merchandise like Ross or TJX .

Persons: CNBC's Jim Cramer, Cramer, Locker, Ross, we've, Apple Organizations: Nike, Nvidia

☆ Google's plan to purge inactive accounts isn't sitting well with some users
▼ + stars: | 2023-08-19 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Google said in May that, starting in December, it would begin purging inactive accounts, a warning sign of sorts to people who use multiple logins. "I'm of the mind that email subject lines should be explicitly clear, especially if a consequence is attached to a customer's inaction," she wrote. Users commonly maintain multiple accounts, allowing them to use different email addresses for different purposes, and to store online photos and documents in separate places. But for Google, storage space on free accounts is a cost. The new policy doesn't apply to schools or businesses using Google accounts.

Persons: Ruth Porat, Sabrina Meherally, Meherally, aren't Organizations: Economic, Google, LinkedIn, Twitter Locations: Davos, Switzerland

☆ Chinese consumers aren't spending domestically or abroad, says Eurasia Group's Anna Ashton
▼ + stars: | 2023-08-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese consumers aren't spending domestically or abroad, says Eurasia Group's Anna AshtonAnna Ashton, Eurasia Group director of China Corporate Affairs, joins 'Squawk Box' to discuss China's economic slump, after a new report from Nomura says it's increasingly possible that the world' second largest economy will miss its 5% growth target, China's skyrocketing youth unemployment rate, and more.

Persons: Anna Ashton Anna, Nomura, it's Organizations: Eurasia Group, China Corporate Affairs Locations: Eurasia, Anna Ashton Anna Ashton

Known for offering little to no interest, savings account interest rates have greatly increased as the Federal Reserve raised interest rates several times in 2022 and 2023 to combat inflation. The average savings account interest rate in the US is 0.42% APY, but the account you choose has a big impact on that rate. If you opened a savings account years ago and never looked again, it's likely you're not earning nearly as much as you could. I have my own version of a savings ladder using three savings accounts: an emergency fund, a high-yield savings account, and a savings account for a down payment on a home. Products in this post: Betterment Cash Reserve Account, OceanFirst Bank High Yield Savings Account, Milli Savings Account, SoFi Checking and SavingsJennifer Streaks Senior Personal Finance Reporter and Spokesperson Jennifer is a Senior Personal Finance Reporter and Spokesperson for the Personal Finance vertical at Business Insider.

Persons: it's, aren't, Jennifer, Read Organizations: Federal Reserve, Products, OceanFirst, Business, Black Enterprise Magazine, CNBC, Forbes, Twitter Locations: Santander, Investor.gov

☆ Your snacks are getting more expensive. Blame these big food companies, not inflation.
▼ + stars: | 2023-07-27 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

But major food companies, from Nestlé to Unilever, increased prices much more than that. The world's biggest food companies spent the first half of this year raising prices, according to several earnings reports released this week. Some external factors have impacted the costs that major food companies pay to produce their products. It's especially easy for global food companies to raise prices, given that a few companies own most of the brands in many US grocery stores. But there's some evidence that consumers aren't willing to put up with higher food prices indefinitely.

Persons: PepsiCo's, Ramon Laguarta, We've, James Quincey, Quincey, PepsiCo's Laguarta Organizations: Consumer, Unilever, Service, PepsiCo, Quaker Oats, Gatorade, Federal Reserve, New York Times, Walmart, Costco, Sam's Locations: Nestlé, Wall, Silicon, Ukraine, Clorox, Kingsford, Europe

☆ 'Barbie' box office dominance extends beyond the weekend
▼ + stars: | 2023-07-26 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

The Warner Bros. flick based on Mattel's iconic fashion doll continued to tally record ticket sales following its historic opening weekend. On Monday, "Barbie" added $26 million to its haul, the biggest Monday in the history of Warner Bros. and the best-ever for a female director. Greta Gerwig's bubblegum pink feature added another $26 million on Tuesday, extending its domestic box office to $214 million. "Barbie" exceeded opening weekend expectations, snaring $162 million over its first three days in domestic theaters. In just five days in theaters, "Barbie" has topped $470 million globally.

Persons: It's, Greta, Harry Potter, Margot Robbie, Mario, Barbie, Christopher Nolan's, Oppenheimer Organizations: Warner Bros, Marvel, Star, Mario Bros, Universal, Comcast, CNBC Locations: Hollywood, NBCUniversal

☆ Tom Lee, who nailed the inflation call, reveals what the market needs to hit all-time highs
▼ + stars: | 2023-07-13 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Tom Lee, who correctly called the stock market rally after June's softer-than-forecast inflation report, said the S & P 500 could hit new a record high soon — on one condition. "If a recession is not imminent, then I think a lot of folks are offsides and that's what propels markets to all time highs." The widely-followed strategist had predicted Monday that the S & P 500 might jump 100 points following a lighter-than-expected inflation reading. Lee recently raised his year-end S & P 500 target to 4,825, which would put the benchmark at an all-time high. The S & P 500 closed at an all-time high of 4796.56 in early January, 2022.

Persons: Tom Lee, Lee, aren't Organizations: Fundstrat Global Advisors, Pepsico, Delta Air, JPMorgan, Citigroup, Wall Street, CNBC, Federal Reserve Locations: Wells

☆ Data is the fuel behind every retail engine. Here's how you can leverage it to retain customers and drive sales.
▼ + stars: | 2023-06-29 | by ( Sponsor Post | Created Insider Studios With Adyen | ) www.businessinsider.com time to read: +7 min

By Brian Dammeir, global head of unified commerce at AdyenWhat do customers want? And more than 40% of retailers have seen a decrease in customer loyalty due to rising inflation. Below are three ways omnichannel businesses can leverage financial technology platforms embedded with smart data analytics to power their personalization strategy. To eliminate these complexities, retailers can consolidate customer payments and data insights under a single unified technology platform. Click here to access the full report and find out how Adyen's unified technology solutions can help your business achieve financial success.

Persons: Brian Dammeir, it's, that's Organizations: Global, Insider Studios Locations: Adyen

☆ Consumers keep traveling despite recession fears and inflation
▼ + stars: | 2023-06-02 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Prices for airline tickets, for example, were down 0.9% in April from a year ago, according to the latest federal inflation read. A round-trip domestic flight is averaging $306 this summer, down 19% from last year, though still 6% higher than in 2019, according to travel site Hopper. Lodging also has been more expensive this year, even within the U.S. Hotel occupancy averaged 60.6% from January though April, with per-night average rates of $152.68, according to hotel data firm STR. That's up from 63% occupancy and average nightly rates of $130.05 during the same period in 2019, and up from 58.4% occupancy and average rates of $141 a night last year. Nightly hotel rates for Maui, Hawaii, have increased more than 53% since 2019 to $535.90, the biggest percentage increase in the U.S., according to STR.

Persons: Francesco Riccardo Iacomino, Jason Gaughan, Hopper Organizations: Deloitte, Transportation Security Administration, American Airlines, Bank of America, U.S Locations: U.S, Europe, Airfare, Maui, Hawaii, San Jose, Santa Cruz, California

☆ Restaurants expect strong sales this summer. Consumers aren't so sure
▼ + stars: | 2023-05-29 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Warmer weather usually boosts restaurant sales, but diners may hold back for the second straight summer as inflation weighs on consumers' minds — and wallets. In addition to higher restaurant bills, diners were also paying more at the gas pump and in grocery stores. Restaurant sales snapped back in August, which Black Box Intelligence attributed to higher consumer confidence levels as gas prices fell. Nearly half of operators surveyed by Datassential anticipate higher sales or improved traffic this summer season. Summer typically ushers in a wave of seasonal restaurant jobs to meet higher demand, particularly in the Northeast and tourist destinations.

☆ Why Home Depot's weak outlook could be a warning sign for Target earnings
▼ + stars: | 2023-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Robyn Beck | AFP | Getty ImagesHome Depot and Target may sell very different kinds of merchandise. But the home improvement retailer's slashed forecast could be seen as a warning sign for the cheap chic retailer. On the other hand, Target, Walmart and other retailers that report in the coming weeks draw from a more representative pool of Americans. Discretionary spending fell year over year in the U.S., according to data from Circana, a market researcher formerly known as The NPD Group and IRI. Plus, Home Depot has some sector-specific advantages — even as mortgage rates rise — that could insulate it from some of the effects of lower discretionary spending.

☆ Booking Holdings CEO Glenn Fogel: Consumers aren't shortening stays or downgrading their hotel
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBooking Holdings CEO Glenn Fogel: Consumers aren't shortening stays or downgrading their hotelGlenn Fogel, Booking Holdings CEO, joins 'Squawk on the Street' to discuss the company's strong travel demand despite economic uncertainty.

☆ What Home Depot's billion-dollar pay raise may help prove about workers
▼ + stars: | 2023-04-30 | by ( Bob Woods | ) www.cnbc.com time to read: +7 min

"We are confident we can make the investments needed to remain competitive in a tight labor market while also growing our profitability." "The [home improvement] environment seems to be weakening, not accelerating, and therefore incremental wage investments at this time would open the door to more questions and surprise. "They're behaving as they should given the tight labor market, showing leadership and not just thinking about a 12-month timeframe. And in a tight labor market, it's getting increasingly difficult to keep talent [if] you pay unlivable wages and [offer] few opportunities for growth and success." It's hard to say when, and if, Home Depot will see a demonstrable return on the monumental expenditure for its frontline workers.

☆ Today's homebuyers have their mortgage rate tipping point, and it's artificially low
▼ + stars: | 2023-04-14 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Today's homebuyers are exceptionally sensitive to mortgage rates with house prices so high — and they've found their tipping point. After years of government intervention following the great recession and the first years of the Covid-19 pandemic that kept mortgage rates artificially low, today's buyers have a skewed view of what "normal" mortgage rates are. In addition, 62% of buyers said they believed that a "historically normal mortgage rate" was below 5.5%. "Today's homebuyers are extremely sensitive to fluctuating interest rates, and a significant drop in mortgage rates would likely make the market more competitive." Nearly two-thirds of respondents said they've had to reduce their housing budgets due to the current level of mortgage rates.

☆ U.S. economy should remain 'recession-free' if consumers keep spending as they have: Moody's
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. economy should remain 'recession-free' if consumers keep spending as they have: Moody'sMark Zandi of Moody's Analytics says consumers aren't "spending with the abandon, but they're continuing to spend consistent with historical norms."

☆ Why connectedness is the future of great customer experiences
▼ + stars: | 2023-03-21 | by ( Sponsor Post | Created Adobe With Insider Studios | ) www.businessinsider.com time to read: +6 min

For generations before digital, customer interactions were highly personal: Merchants talked directly with each person and learned pretty quickly why they were or were not completing transactions and deepening relationships. Connected customer experiencesEvery business wants to grow. But in order to connect a customer's experiences, brands first must connect with them, and do so with their privacy and preferences in mind. The same platform that enables connected customer experiences should be able to connect with and facilitate all of these business needs, leveraging properly gathered and governed customer data. Find out how Adobe can help you form a connected customer experience.

☆ Nike's holiday quarter plagued by bloated inventory, weak China sales
▼ + stars: | 2023-03-21 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +4 min

While Nike CEO John Donahoe told investors last quarter he believes the company is past its inventory peak, the company warned gross margins were expected to take a hit during the holiday quarter. During an earnings call with investors Tuesday, executives said they're "increasingly confident" Nike will exit the fiscal year with healthy inventory levels. They also expect to see "even leaner inventory" than they'd anticipated given sales momentum, the executives added. Citing its strong performance in the quarter, Nike now expects fiscal year revenue to grow by high single digits, compared to mid single digit guidance it gave in the prior quarter. In the next quarter, Nike expects flat to low single digit revenue growth.

☆ Booking Holdings CEO Glenn Fogel: Hotel pricing is high, but consumers aren't trading down
▼ + stars: | 2023-02-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBooking Holdings CEO Glenn Fogel: Hotel pricing is high, but consumers aren't trading downBooking Holdings CEO Glenn Fogel joins 'Squawk Box' to discuss how long the post-pandemic travel boom continues, what he is seeing from hotel pricing, and more.

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