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ARTICLE · 19 FEBRUARY 2024

From Forecasts To Checkout: Reflections On 2023 Holiday Retail Predictions

Ankura Consulting Group LLC
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The 2023 holiday shopping season has officially ended, and consumers are packing away their holiday décor to peacefully collect dust until they are summoned again in November.

United StatesConsumer Protection
Chris Ventry
Chris Ventry

Overview

The 2023 holiday shopping season has officially ended, and consumers are packing away their holiday décor to peacefully collect dust until they are summoned again in November.

Let us unpack the Holiday sales and traffic results and see how accurate (or not) Ankura's "2023 Holiday Consumer Sentiment Survey" and "Black Friday Shopping Pulse" observations were.

The Inflation-Weary Consumer

The 2023 holiday season arrived with echoes of inflation and murmurs of uncertainty about the U.S. macroeconomic outlook. The front-half of 2023 unfolded as a careful tango between consumers grappling with cost-consciousness and retailers adeptly maneuvering through a promotion-fueled marketplace. We expected this dynamic to continue through the holiday season with consumers ready to attack their shopping lists at malls or online, but with a keen eye for value and discounts.

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