In this exclusive 5 Insightful Minutes interview, Chad Lusk, Managing Director at the A&M Consumer and Retail Group, shares eye-opening insights from their latest consumer sentiment survey. Discover how the economic downturn is impacting consumer spending trends, particularly among high-income households, and learn how retailers can adapt their strategies in marketing, inventory management, and pricing.Key takeaways:Discretionary spending shifts and the prioritization of experiential purchasesThe growing importance of personalization technology, virtual try-on, and VR in retailThe rise of social media shopping and secondhand market growthStay ahead of the curve and position your retail business for success in the face of changing consumer behaviors. Watch now to gain critical insights that will help you navigate the challenges ahead.You can also read the latest Consumer Sentiment Survey in full by heading here: https://alvarezandmarsal-crg.com/insight/consumer-sentiment-survey-spring-24/*Sponsored Content*This podcast uses the following third-party services for analysis: Chartable - https://chartable.com/privacy