Tag: August 2024 Marketing Benchmarks

Consumers remained cautious in September. Traffic was up for many brands, however faced with persistent inflation and high borrowing costs, consumers continue to limit discretionary purchases. While some are still spending, the overall pace has slowed.

August presented significant challenges for many retailers, as the market landscape continued to evolve. Brands found themselves grappling with intensifying competition, driven by an economic climate that has led to shifting consumer behaviors. Recent economic data highlights a slowdown in consumer spending growth, with inflation cooling but still impacting discretionary purchases.