Release Date: November 23, 2021
BUFFALO, N.Y. — This holiday season should be strong in terms of spending and consumer confidence, according to Charles Lindsey, an expert in retail marketing strategy, brands and consumer behavior in the University at Buffalo School of Management.
He says the prognosis is bright for national retailers this year. It is expected that combined in-store and online revenues will be nearly 10% higher relative to last holiday season.
In terms of having merchandise products available, Lindsey is optimistic.
“Although we will see some shortages and stockouts, reports of the impact of supply chain issues are largely overblown,” he says.
Lindsey recommends that consumers lock down the critical items on their lists early, especially if they are risk averse, but cautions that early shoppers face the risk of overspending because the “pain of payment” doesn’t loom as large.
An associate professor of marketing, Lindsey says some things that changed during the past few years are likely to remain in place.
For example, gone are the days of long lines and in-store doorbusters on Thanksgiving. Consumer movements against the store openings are part of the reason, according to Lindsey.
“The reality is that holiday spending has become so spread out with Christmas creep and online options that one day of closing has less of an impact than it used to,” he says. “Some stores will go back to opening on Thanksgiving, and customers still like to experience the decorations and holiday atmosphere, but it’s unlikely we will see the heyday of those 4 a.m. lines again.”
To schedule an interview with Professor Lindsey, contact Jacqueline Ghosen, assistant dean and director of communications, at 716-645-2833 (office), 716-479-2890 (mobile) or email@example.com.