Consumers look for value in both meals, gifts this holiday season
With inflation driving up the cost of both gifts and meals, consumers are focused on finding the best bang for their buck this holiday season. In an interview with Asking for a Trend's Josh Lipton, R.J. Hottovy, Placer.ai Head of Analytical Research, said that while the average person is being more discreet about how they spend their money, brands that are delivering consistent results, like Chili's (EAT), Chipotle (CMG), Sweetgreen (SG), and Texas Roadhouse (TXRH), are still seeing growth. "I think that's kind of the lesson from 2024 is it's a tough environment," he said. "But those that are innovating, that those are giving the most value, they are driving traffic right now." As far as holiday shopping goes, while malls might seem like a relic of the past, many have seen a resurgence after pivoting to experiential retail. According to Hottovy, malls actually outperformed retailers on Black Friday this year. "People were going out Black Friday, but for the experience. They were going out for the seasonal attractions," Hottovy said. "They were going for pictures of Santa. They were going out dining. We saw really big fine dining numbers for Black Friday. So it's interesting because now we've had a couple years where malls have repositioned themselves through mixed-use strategies. They're bringing in more attractions and, you know, the way people interact with malls has completely changed and I think we really saw the fruits of that labor come out on Black Friday." To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. This post was written by Conor White
