Part 2 of 2
SAN DIEGO—In part one of our two-part coverage of Dana Telsey, CEO of Telsey Advisory Group's keynote presentation here at ICSC's Western Division and Deal Making Conference, she said that overall, paltry retail sales and decelerating consumer spending are two trends that should be monitored. However, she pointed out that she is currently seeing a robust growth in off-price and activewear; slight improvement in specialty apparel and department stores. In part two of our coverage, Telsey says that the macro picture has improved from last year with job creation in the labor markets, disposable income growth and inflationary pressures that are controlled.
“Despite recent strength in select categories like e-commerce, health/personal care, and sporting goods, for example, overall retail sales growth has been paltry,” she explained. “Activewear, she said, is high-growth with favorable secular trends.”
Retailers today are increasingly focused on understanding how the attitudes and preferences of millennials are different from baby boomers, she explained. “Given their preferences and lifestyles, millennials are a visible impact on the composition of consumer spending, leading the shift from goods to services.”
Telsey said that retailers that are focusing on capturing millennial wallet share are focusing on about 27% of the population…nearing $1.1 trillion in spending by 2035. And retailers that do that in addition to capitalizing on product trends like activewear, and who focus on leveraging big data and technology—which optimized targeted marketing and ultimately increased conversation—will lead the pack.
Check back with GlobeSt.com for more from Telsey on how the different retail sectors are faring.
Part 2 of 2
SAN DIEGO—In part one of our two-part coverage of Dana Telsey, CEO of Telsey Advisory Group's keynote presentation here at ICSC's Western Division and Deal Making Conference, she said that overall, paltry retail sales and decelerating consumer spending are two trends that should be monitored. However, she pointed out that she is currently seeing a robust growth in off-price and activewear; slight improvement in specialty apparel and department stores. In part two of our coverage, Telsey says that the macro picture has improved from last year with job creation in the labor markets, disposable income growth and inflationary pressures that are controlled.
“Despite recent strength in select categories like e-commerce, health/personal care, and sporting goods, for example, overall retail sales growth has been paltry,” she explained. “Activewear, she said, is high-growth with favorable secular trends.”
Retailers today are increasingly focused on understanding how the attitudes and preferences of millennials are different from baby boomers, she explained. “Given their preferences and lifestyles, millennials are a visible impact on the composition of consumer spending, leading the shift from goods to services.”
Telsey said that retailers that are focusing on capturing millennial wallet share are focusing on about 27% of the population…nearing $1.1 trillion in spending by 2035. And retailers that do that in addition to capitalizing on product trends like activewear, and who focus on leveraging big data and technology—which optimized targeted marketing and ultimately increased conversation—will lead the pack.
Check back with GlobeSt.com for more from Telsey on how the different retail sectors are faring.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
