Check out what's happening in ecommerce from Nov. 7-11, 2022.
Welcome to a new week. The coming days will mark the culmination of a monthslong effort by focused teams to carefully study prevailing sentiment across the country, and bring forward a campaign that reaches people with the right message across platforms to inspire them to take action. For these upstart operations, the outcome will be make or break the ability to accomplish all that they want in 2023.
We’re not talking about Black Friday, yet. Tuesday is Election Day in the United States. providing voters with the opportunity to weigh in on key races for Congress, governor and ballot questions.
While the goals of political campaigns are oriented toward voting and legislating rather than selling goods, they employ many of the same tools as consumer brands, from data to personalization to the latest digital marketing techniques.
They even rely on some of the same indicators, like consumer sentiment. In the weeks leading up to the election, consumer confidence was running at its lowest levels since the beginning of the pandemic at a time when inflation continues to run at 40-year highs, according to Morning Consult. This is shaping how voters view the race, just as it makes a difference to their willingness to click "Buy."
We’ll find out which party put tactics and message together to convince more voters to click their button in the voting booth. Unfortunately, in this case there are no returns.
Here’s a look at the rest of this week’s happenings that are shaping the consumer economy:
Consumer Credit: Last week, the Federal Reserve hiked interest rates, which will effectively make borrowing more expensive as these actions filter through the economy. This week, the Fed issues data on how much Americans have accumulated in loans, credit cards and other vehicles with its monthly report on consumer credit. (Nov. 8)
Consumer Price Index: The US Commerce Department issues its report showing the inflation rate for October. Bank of America economists expect an inflation rate of 7.8% year-over-year, which would be a slowing of price growth from September’s level of 8.2%. Timed with this print, Adobe also typically releases its monthly digital price index, showing the ecommerce inflation rate. (Nov. 10)
University of Michigan Consumer Sentiment: The initial reading from the University of Michigan Survey of Consumers provides a snapshot of consumer buying conditions and outlook. This measure has remained near all-time lows amid this year’s bout with inflation. (Nov. 11).
Many of the most prominent publicly traded direct-to-consumer brands will report quarterly earnings this week, providing insights on consumer patterns and how brands are navigating a tough retail environment.
Monday, Nov. 7: Blue Apron, Hims & Hers, SmileDirectClub.
Tuesday, Nov. 8: Allbirds, Affirm, Coty, SquareSpace, The RealReal.
Wed., Nov. 9: Boxed, Bark, Canoo, Olaplex, HanesBrands, Purple.
Thursday, Nov. 10: Warby Parker, Solo Brands, Yeti, Figs, Grove Collaborative, AKA Brands, Brilliant Earth, Poshmark, Tapestry Inc., Ralph Lauren, Utz Brands, WeCommerce, Wix.