verde live: october 28, 2020
Mixed messages about the economic recovery, results from the latest consumer sentiment survey and what lawmakers are doing to try and protect local journalism
Welcome to Verde Live, our weekly show where news headlines are made relevant to the specialty business leaders comprising our incredible audience at Verde and the Channel Mastery podcast. Every Wednesday we go live with headlines and trends in media, consumer behavior, retail and marketing. - to help specialty brands navigate the seismic shifts in business today.
In this weeks episode, Kristin takes a look at both sides of the economic recovery (the good and the bad), the latest consumer sentiment survey published by McKinsey & Company and what lawmakers are doing to try and save local journalist. Tune in below for more!
key takeaways:
The Indicator from Planet Money, hosted by Cardiff Garcia and Stacey Smith, recently debated over the future of the U.S economy looking at both sides of the argument - one for hope and the other for despair.
There is a big split in what people are spending on. People are spending more on home goods, but not services like restaurants and travel.
Consumer confidence shot up in September - the most it has in 17-years.
And while it’s getting really really close, I suppose it’s not too late for the Government to announce another stimulus package before the November election - negotiations are still underway - and that could be a big boost to our economy.
McKinsey & Company released the results of their September Consumer Sentiment Survey. In short: Although American optimism is recovering, consumers remain worried about spending and safety.
Most consumers remain mindful of “discretionary” spending and plan to maintain or reduce spending during upcoming holidays.
With continued pressure on household income, consumers are trying new brands and channels, seeking both better value and convenience.
A recently published study by Deloitte shares some valuable insight into this holiday season:
Curbside pickup is expected to more than double from last year.
Free return shipping is expected to be in high demand as 70 percent of consumers prefer a retailer that offers this option.
New shopping behavior favors efficiency as the average shopping window is expected to be 1.5 weeks shorter this year.
Lastly, the Wall Street Journal published a story this week sharing a new report proposing a range of legislative fixes to protect local newspapers from Google, including:
A law that would force tech platforms to negotiate with local news outlets to ensure those organizations are paid for their content.
Ask to the Federal Trade Commission to police the giant tech platforms for their “anticompetitive behavior.”
Join Kristin for the next Verde Live on Wednesday, November 4, and sign up for the below newsletter to be the first to know when the next episode drops!