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Concerns about Holiday Spending

The upcoming holiday season poses challenges for U.S. retailers in apparel, electronics, and home improvement sectors. Businesses are unsure if increased discounts will drive anticipated consumer spending. October’s sales figures indicated a slowdown in economic demand, leading to a mixed holiday outlook as retailers gear up for Christmas shopping.

To entice consumers during Thanksgiving, retailers launched early holiday deals and competitive promotions. However, major players like Lowe’s and Best Buy reported reduced year-over-year sales and adjusted yearly forecasts. Best Buy’s CEO, Corie Barry, noted the erratic and unpredictable nature of current consumer demand, “In the more recent macro environment, consumer demand has been even more uneven and difficult to predict”.

The S&P 500’s consumer discretionary sector dropped 1% after a 31% rise in 2023, projecting the slowest holiday sales growth in five years, suggesting a potential decrease in American holiday shopping.

Higher interest rates, inflation, and resumed student loan repayments are expected to strain consumer spending. While some sectors like activities and services show resilience, those focusing on discretionary goods like home, apparel, and electronics face ongoing challenges.

Although some investors are hopeful about better-than-expected Black Friday and Cyber Monday sales due to improved inflation and stable interest rates, concerns persist regarding declining consumer spending.

Flying Taxis on the Horizon

While flying taxis may seem like the wave of the far off future, the F.A.A recently published a report delineating a plan for an air taxi market by 2028. Though there are many obstacles to overcome in order to create a market for air taxis, the FAA is confident about their 2028 start date. Air… Continue Reading

Moxion Power Batteries are on Set

Close to half of the carbon emissions of any movie are produced by the fuel used to power generators and transportation needs, according to the Sustainable Production Alliance. That is why movie sets are going green with cleaner energy batteries. Moxion Power technologies are replacing diesel generators on sets film and TV sets for creators… Continue Reading

Digital Markets Act is E.U.’s Attempt to Limit Big Tech

Digital Markets Act is E.U.’s Attempt to Limit Big Tech

The Digital Markets Act is the European Union’s most far-reaching piece of legislation since it passed its strict privacy laws in 2018. The law tackles the power of the leading tech companies and redefines the way app stores, digital marketing, online retail, and messaging platforms operate. The legislation is designed to stop the biggest tech… Continue Reading

Pandemic Brings New Opportunities for Entrepreneurs

Pandemic Brings New Opportunities for Entrepreneurs

A growing number of Americans are starting their own business. The reasons behind this pandemic-driven entrepreneurial surge vary: some were laid off because of COVID and transitioned their “side hustle” to be their primary form of income; others took the time to reconsider their priorities and gave up on their grueling corporate jobs; for some,… Continue Reading

Trading Card Business Goes to Fanatics

Topps, the trading card business that paired Bazooka bubble gum and baseball cards over fifty years ago, has been bought by Fanatics, the sports memorabilia company. The sale valued Topps’s sports and entertainment sectors at just over $500 million. Topps lost its 70-year-old licensing agreement with Major League Baseball and the Major League Baseball Players Association… Continue Reading

Rosalind Brewer Becomes 20th Black CEO in America

Rosalind Brewer has been named incoming CEO of Walgreens, effective March 15, 2021. This role makes Brewer, who is leaving her position as COO at Starbucks, the only Black woman to lead a Fortune 500 company. Brewer joins the other 19 Black CEOs — 17 men and two women — who have ever been listed as… Continue Reading

Celebrate Women Virtual Conference

Celebrate Women Virtual Conference

“Surviving (and Thriving) in Unsettling Times.” That is the theme and topic of the 15th annual Celebrate Women virtual conference set to begin on Friday, March 19, 2021. Alison Levine, American mountain climber, sportswoman, explorer, leadership consultant and best-selling author, will deliver the keynote address. Levine was team captain of the first American Women’s Everest Expedition,… Continue Reading