Tapping Into Retail Trends

2024 • Trends

With the U.S. presidential election literally around the corner, there’s a lot of controversy surrounding how the two candidates’ plans for the future will impact U.S. businesses. That’s one reason so many companies are jumping into the political arena this time around to endorse the candidate that best supports and benefits their view of the future.

Tip: A new trend, called “founder-generated content,” puts small business (especially retail) owners at the forefront of a company’s marketing content.

Despite some uncertainty, economists and retail gurus alike are suggesting what may be in store. To help you make your own plans for next year, here’s some of what they say about retail in 2025, plus how you can get more consumers to come a-knocking.

TARGETING YOUNGER AFFLUENTS

The luxury market in particular is being impacted by changing demographics. “Luxury brands are seeing a dramatic shift in their customer base,“ reports Shopify.com, “with consumers under 40 now representing 40% of the market, overtaking the historically dominant older demographic.”

40%
The percent of spending in the luxury market by consumers under age 40.

BEING MORE SOCIAL

There’s a new trend, and term for it, called “founder-generated content,” and it puts small business (especially retail) owners at the forefront of a company’s marketing content. That’s a great way to cater to the 70% of customers who, according to SproutSocial, feel more connected to a brand when its CEO is active on social media.

SENDING A MESSAGE

A third (30%) of Americans say they usually learn about new products from “retail sites, e-commerce sites, or ads/sponsored posts.” That’s up from 25% in 2020, reports consumer research platform GWI.

MAKING A CONNECTION

When customers feel more connected to a brand, SproutSocial reports that more than half (57%) increase their spending with that brand and 76% will buy from them over a competitor.

What strategies are you implementing to grow your business next year? Tell us about it and share in the conversation on Facebook here.