5 Insightful Minutes | New A&M Consumer Sentiment Survey Reveals Critical Insights
In this interview, Chad Lusk from the A&M Consumer and Retail Group discusses the findings of their latest consumer sentiment survey, revealing that consumers at all income levels, particularly high-income households, are cutting back on spending and prioritizing savings due to the economic downturn. Lusk advises retailers to adapt their strategies by targeting deals for higher-priced discretionary items, increasing purchase frequency among current customers, and leveraging personalization technology, virtual try-on, and social media shopping to meet changing consumer expectations.