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Rick is joined by Karl Haller, Partner, Consumer Center of Competency Leader at IBM for this special interview.
Many global consumers are ready to celebrate the holidays again however, as a wider set of economic and political issues took center stage this past year, new risks and uncertainties loom over their plans. According to the annual global holiday shopping and travel report released by IBM’s Institute for Business Value (IBV) nearly half of consumers surveyed will spend less if inflation continues to drive price increases.
The mix of rising prices and decreased availability of inventory means that when consumers shop is just as important as where. Continuing the shift away from the traditional Black Friday start of the shopping season, about 58% of consumers plan to start holiday shopping before November. Almost two in three people plan to pre-order their products to get them on-time with guaranteed prices and 73% said they are considering sustainability when shopping for the holidays.
Travel is also an area where consumers are looking to get back to normal, while still mitigating any risk associated with potential price changes due to inflation and fluctuating gas prices. With even the best plans have risks of disruption, the retail and travel industries are taking notice.
For more information please visit: www.ibm.com/ibv
Karl leads IBM’s Consumer Industry Center of Competency, where he works with retailers and consumer goods companies worldwide to digitally reinvent their businesses and operationalize the use of advanced capabilities across their enterprise. Karl has over 25 years of experience in retail, fashion, and consumer goods, and has served in executive positions in Strategy, Customer Engagement, and Marketing at Brooks Brothers, Tommy Hilfiger, The Limited, and Doner Advertising. Karl began his career in the strategy consulting practice at PricewaterhouseCoopers.