In episode #2608, We discuss the expected increase in holiday spending despite concerns about a recession. We highlight the impact of inflation on consumer budgets and the potential consequences of high levels of debt. We also discuss the need for businesses and individuals to be more realistic about their financial expectations and the importance of discipline in the current economic climate. Our conversation concludes with a prediction that 2024 will be a year of reckoning for many as the effects of high-interest rates and economic realities become more apparent.
Don’t forget to help us grow by subscribing and liking on YouTube!
Check out more of Eric’s content (Leveling UP YT) and Neil’s videos (Neil Patel YT)
TIME-STAMPED SHOW NOTES:
- (00:00) Today’s topic: Shoppers Expected to Spend the Same or More This Holiday Season
- (00:31) Consumers plan to shop at discount and traditional department stores
- (01:12) Consumers still spending despite inflation and higher costs
- (02:51) Deloitte report projects rise in retail sales this holiday season
- (03:53) Consumers with lower incomes expect to spend more
- (04:14) Tech layoffs and impact on spending
- (05:24) Reality check needed for business valuations
- (06:19) Lack of discipline in raising funds and trading on potential
- (07:20) High interest rates and debt will impact spending
- (07:34) Uncertainty about when the economy will improve
- (07:41) That’s it for today! Don’t forget to rate, review, and subscribe!
Go to https://www.marketingschool.io to learn more!
Links Mentioned in Today’s Episode:
- ICSC’s 2023 Holiday Shopping Forecast
Leave Some Feedback:
- What should we talk about next? Please let us know in the comments below
- Did you enjoy this episode? If so, please leave a short review.
Connect with Us:
- Single Grain << Eric’s ad agency
- NP Digital << Neil’s ad agency
- X @neilpatel
- X @ericosiu
Learn more about your ad choices. Visit megaphone.fm/adchoices
See omnystudio.com/listener for privacy information.
Discover Latest Episodes
In this bonus episode, we give you a sneak peek into what our Agency Owners Association (AOA) hangouts look like. Join their discussion about challenges and strategies related to lead generation, part...
In episode #2860, Eric Siu and Neil Patel explore how AI-driven sales reps and new pricing models are transforming the game, from increased efficiency to potential disruption. Discover what this means...
In episode #2859, Eric Siu and Neil Patel discuss the implications of AI, particularly ChatGPT, on the marketing industry. They explore the potential for AI to replace certain roles, the importance of...