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KELSEY GROOME

TRAUB SENIOR MANAGING DIRECTOR

RETAIL SALES RECOVERY LOSES STEAM

Host:

Kelsey, the total value of retail sales bounced back to pre-covid levels. But the composition of the spending has changed. Consumers are spending on things like (1?)plliances not experiences like restaurants. What can you tell us about the shift in demand? How permanent is it?

Kelsey Groom:

Yeah, well, I think, we, we tracked, uh, kind of through the course of the pandemic starting in mid-March with one of our consumer insights partners very closely the consumer. And clearly we saw a rapid change in behavior. Uh, both in category and in what was driving purchasing decisions. I think that you know what, what we see now is that the consumer is spending beyond just the essentials, you know, some of the categories that (2?)we’ve seen uptackly have been beauty and accessories. Uh, fitness has been a big one (3?)in home entertainment. Uh, but I think that, you know, the consumer as the virus kind of hit and (?4)rolled out state by state beyond New York, the consumer’s more sensitive to doing some of the, you know, restaurants, bars et cetera.

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