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The Experience
Economy
Sarah Quinlan
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DEAD!
Bricks and
Mortar Retail
is
You might be hearing…
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W R O N G
And to that I say…
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Sales TypeEmployment Net Migration
SUCCESSFUL RETAIL SALES DEPENDS UPON…
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EMPLOYMENT
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ANNUAL UNEMPLOYMENT RATESU.S. Annual Unemployment Rates
145,000 US jobs
were created in
December 2019
3.5% (Dec 2019)Perc
ent
Unem
plo
yment
0
2
4
6
8
10
12
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Wages
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• December 2019 was the first time that there were more
women hired than men in the US
• This reflects that women now are 54% of college
graduates within the US
• However, there was a drop in college enrollment of 1.8%
in 2019, continuing the negative trend of the past eight
years.
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RETAIL SALES
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RETAIL SALES ARE 70 PERCENT OF GDP
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US Retail Sales Growth
% G
row
th–
mo
nth
-ove
r-m
on
th
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60% of all US
Home Owner
expenditures
are spent on
services
Goods
Services
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ONLY 11.4% OF
ALL U.S. RETAIL
SALES IN 2019
CAME FROM
E-COMMERCE
E-COMMERCE
U.S. RETAIL
11.4%
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E-commerce Holiday Sales
• E-commerce sales grew 18.8% in 2019
• Holiday E-commerce sales were 14.6% of total retail sales
• E-commerce was 24.5% of cyber-Monday spend
• Apparel and electronics had the largest percentage growth
year-over-year
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EVOLUTION OF SPENDING
• In 1929 $12 of every $100 spent was on clothing
• In 2019 clothing spending was down to $2.80 of that $100
• Food spending has had a similar decrease
• But now, 48.7% of food spending is in restaurants
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Strip Malls Large Shopping Malls Lively Retail Centers
The Evolution of Retail
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THE FUTURE OF RETAIL
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SHOW ROOMING!!
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ENTERTAINMENT!!
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FOOD AND
BEVERAGE!!
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BUT THE NUMBER ONE HOLIDAY
GIFT FOR THE PAST 3 YEARS…
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Vacation!
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NET MIGRATION
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EMPLOYMENT
AND NET
MIGRATION
Top 2018 Inbound/Outbound
States
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THE OUTLOOK
•Worldwide Economic Slowdown
•Trade unknowns
•Coronavirus
Challenges
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THE OUTLOOK•Small Businesses
•Brick-and-Mortar Companies
•Show Rooming
Winners
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THUS:
Growth is Not Linear
Continue To Create
And…
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GO
SHOPPING!!