Executives at Amazon and Etsy said political headlines are distracting shoppers. Retail earnings have barely begun, and analysts point to a tough macro...
Election headlines have been coming so fast and furious that they’re drawing consumers’ attention away from shopping at a time the industry is already vulnerable because of a hit to discretionary spending .“We have an election that’s been incredibly mindshare-consuming, and I expect, unfortunately, that that’s going to get worse. And the macro continues to be very volatile,” Silverman said.
“The macro is absolutely dominating the market, and absolutely dominating people’s conversations,” Simeon Siegel of BMO Capital Markets said in a phone interview. He’s a managing director and senior analyst covering retail and e-commerce, and said election news is just one element contributing to shoppers’ sentiment, in addition to unemployment, residual inflation, and geopolitics.Both analysts said that spending won’t come to a halt and there’s still room for outperformance.
Because distracted or distressed consumers are being more choosy, retailers have to work harder, Siegel said. “Companies aren’t being gifted revenues, they need to fight and earn them. Simply being, and simply being large, is not the path to winning,” he said. They need to offer “compelling product or experience or value.”
Etsy Discretionary Spending Macro Environment Amazon Online Marketplace Retail Giants Earnings Season
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon racing to develop AI chips cheaper, faster than Nvidia's, executives sayInside Amazon.com's chip lab in Austin, Texas, half a dozen engineers on a Friday afternoon put a closely guarded new server design through its paces. The...
Read more »
Amazon’s Prime Day to remind Wall Street of its retail dominanceIn all the excitement around artificial intelligence, Amazon.com Inc.’s most important business has been somewhat forgotten by investors. This week’s Prime Day event could change that.
Read more »
Carvana, Etsy, Teladoc: After-hours moversIt's earnings season, which means a number of stocks are moving in after-hours trading. Carvana (CVNA) shares surged after posting a surprise profit in...
Read more »
Etsy plans to test its first-ever loyalty program as it aims to boost salesEtsy said Wednesday it will begin testing its first-ever loyalty program in September, a move designed to boost the e-commerce site's sluggish sales and draw...
Read more »
What e-commerce earnings may hint about consumer spendingE-commerce platforms eBay (EBAY), Etsy (ETSY), and Wayfair (W) released their latest earnings results, giving an inside look into how consumers are spending ...
Read more »
Etsy is overcoming consumer headwinds by staying unique: CEOInflation has been a prevailing issue for consumers that's been reflected in their discretionary spending habits, rippling across the restaurant services and...
Read more »