US is a 'value-oriented consumer society': JLL Americas Pres.
It's the final shopping day before Christmas, and new JLL data shows consumers are expected to spend approximately $1,449 on holiday gifts this year. JLL Americas President of Retail Naveen Jaggi joins Catalysts to analyze what this statistic reveals about consumer behavior and the broader retail sector. Jaggi emphasizes the remarkable resilience of US consumer spending. "I think it really says a lot about the fact that, at the end of the day, this consumer economy keeps finding ways to engage with the consumer," he observes. However, Jaggi points out a shift in shopping patterns: "We have become a value-oriented consumer society." Retailers like Ross (ROST), Walmart (WMT), and Target (TGT) are experiencing consistent foot traffic as shoppers seek bargains. This value-hunting extends online, with Jaggi noting that "the US consumer continues to find ways to find the best bang for the dollar." Looking ahead to 2025, Jaggi expresses optimism about the department store sector. He views Nordstrom's (JWN) announcement to go private as "great news," describing the retailer as "the gold standard" and suggesting the move will enable better focus on long-term growth strategies. "Retail requires a long-term mindset," he tells Yahoo Finance. "It does not require a quarter-to-quarter mindset only." To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Angel Smith
