Trends in Retail for 2024
Taking the Bad with the Good
(Illustration: StockDreams.ai)
Predicting the future is hard, and that's never more true than in a presidential election year. While not everyone focuses on politics, it does affect the stock market and all the business activity that descends from it.
A recent article by RetailDive.com details 7 retail trends to watch in 2024.
Trouble on the Horizon? It Depends...
About 20 large retailers were forced into bankruptcy in 2023, the largest being Bed, Bath and Beyond, which was subsequently acquired by Overstock.com, which should be able to remedy the weak online presence of the well-loved retailer.
One good thing is that the market has reached equilibrium after the upheaval of the pandemic shutdowns and supply train disruptions, but consumers are still adjusting to the impact of inflation. Add to that soaring credit card balances and increased delinquencies and you have a recipe for a tightening market. Consumers continue to spend cautiously on nonessentials.
Trying New Things
Advancements in technology, including artificial intelligence (AI) and experiments with new store formats made some prognosticators optimistic.
Dealing With Crime
Changes in policy among big-city prosecutors has led to a growing crime problem, which we have addressed before. Retailers are faced with finding their own solutions where politicians are unwilling to act.
Revolving Doors in the C-Suite
Big retailers have been seeing departures in upper management when boards have sought to improve stock prices and profitability. Bloomingdale's, Kohl's, Levi's and Costco have all replaced CEOs (or will soon). Changes have also affected CFO, CIO, COO and president at many big retailers.
Cost Cutting
Layoffs are increasing as retailers work to cut costs and streamline their operations. This could be good for small retailers, as the available talent pool of experienced retail workers may grow.
"We're also seeing layoffs stemming from the closures of brick and mortar that are struggling either financially or with other issues such as theft." says Catherine Lepard, global managing partner of retail and direct to consumer at Heidrick & Struggles. "Outside of the fiscal drivers, layoffs have recently been the result of retailers rethinking their larger business strategy — right-sizing their footprints to align with consumer behaviors shifting from physical to online shopping."
Quick Industry News
TRADE SHOW NEWS
Atlanta Market Reports Increased Attendance
On the first days of the winter Atlanta Market reports attendance was up 6% over last January, in spite of record cold temperatures.
"There is a general feeling of excitement and enthusiasm to open the year," said Bob Maricich, ANDMORE℠ CEO, "and Atlanta Market is only just getting started."
ANDMORE, formerly International Market Centers, is an omnichannel wholesale marketmaker that fuels opportunities for wholesale buyers and sellers to connect, grow and prosper through physical markets, design centers and digital channels. The company hosts live events in Atlanta, High Point, Las Vegas and New York.
NEW WHOLESALE WEBSITES
CJ Bella Company has updated its wholesale, CAMEO EZ© B2B website. Since launching, the company has evolved from only one jewelry line to a lifestyle company which offers products that include decorated Tabletop Coasters, Car Coasters, 100% Cotton Flour Sack Towels, Eco Friendly Dishcloths, Notepads, and More! All are proudly designed and printed in the USA. They featurein-house designs as well as the licensed artwork of both local and national artists. CJ Bella also offers its fashionable Classic Stackin’ Stones Bracelets©.
Ala Carte Alice has refreshed its website design. Ala Carte Alice's mission is simple: to provide the best products and service to their customers and use the freshest ingredients that they can find. Alice Wooten takes great pride in her company, their commitment to customer service and in the products they sell. Ala Carte Alice’s products include savory sauces, red dog rubs, glazes, relishes and jams. Black and Blue Bacon, Creme Brulee and Sante Fe are just some of the yummy cheese balls Alice offers. In addition, there are mouth watering desserts, party dips and awesome entrees. You have go to try Ala Carte Alice for an excellent cullinary experience!
Featured Vendors
indicates a CAMEO EZ© web site.
Ala Carte Alice
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Ala Carte Alice's mission is simple: to provide the best products and service to their customers and use the freshest ingredients that they can find. Alice Wooten takes great pride in her company, their commitment to customer service and in the products they sell. Ala Carte Alice’s products include savory sauces, red dog rubs, glazes, relishes and jams. Black and Blue Bacon, Creme Brulee and Sante Fe are just some of the yummy cheese balls Alice offers. In addition, there are mouth watering desserts, party dips and awesome entrees. You have go to try Ala Carte Alice for an excellent cullinary experience!
Beach Walks and God Talks
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"Beach Walks and God Talks" is a full-color book by Karen Ellison of Kailua-Kona, Hawaii. The full-color glossy pages of this Christian devotional gift book take your customers on a beach-combing journey where they will find treasures from the sea and for their souls. Each double page spread features an inspirational story set at the beach with stunning photography and enriching sidebars. Your customers will find themselves peacefully reflecting on God's love for them as revealed through His creation. Endorsed by Jim Daly, President of Focus on the Family, they will want one for themselves and more as gifts. It is an especially meaningful Christian Christmas gift.
Cin Chili
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Cindy Reed Wilkins, aka The Chili Queen, is a legend in the chili community. Cindy has won an extraordinary 15 first-place awards, over 100 total, in the world of championship red chili. For 35 years, she's been tweaking her best chili recipe, from the size of her beef cubes to her secret blend of powdered chili spices. Cin Chili & Company has grown since it's conception in 2005, from one awesome product to seventeen and counting.
Drew DeRose
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Drew DeRose's lines run from tabletop to decorative figurines and include candle holders, cannisters and cookie jars. All products are colorful and original. The company has a creative staff that designs merchandise for Drew DeRose Designs.
Dutch House Caramels
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Dutch House Caramels was founded in 1997, when the owners of Bayfields Bake Shop & Grill, in Alexandria, Minnesota developed a recipe for caramel candy and started making the product in the restaurant. Today the company features caramels in a variety of assortments and gift boxes.
EMV Trading
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EMV's products are deeply inspired by nature with an emphasis on creating beautiful lasting memories. The company's vast selection of unique products complements fine jewelry stores or gift/souvenir shop. EMV jewelry is perfect for any occasion, ranging from formal to casual events with specialization in Hawaiian Koa jewelry and also offering: license plates, shells and pearls jewelry, sterling silver/stainless steel/tungsten/wood collections, assorted natural gemstones and stone fashion jewelry.
Fancy That Gift & Décor
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Fancy That Gift & Decor, Inc. celebrated its 18th anniversary in August, 2019. Owners, Steve and Carmen Mendelson, have used their experience in gift and home decor to build a company that takes pride in providing quality Coastal Decor products and service with the highest levels of integrity always at the forefront.
G I Jerky
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What started out as a snack to take to the field, quickly turned into other paratroopers at Fort Bragg, NC, wanting to purchase the snack. Over the next year, pounds and pounds of GI Jerky was made in the 82nd Airborne barracks and sold to soldiers all over post. G I Jerky says "We manufacture all of our jerky to the highest USDA standards. All of our jerky is sliced, smoked and then bagged in a USDA facility. When you open a bag of GI Jerky, you can be sure that you are eating the highest quality jerky that money can buy!"
Gina B. Designs
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Gina B. Designs is an award-winning greeting card, gift and stationery products company featuring exceptional art and design. With an array of styles, variety of products and outstanding customer service, Gina B. Designs has "something for everyone." All products are proudly made in the U.S.A.
Global Building Blocks
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Global Building Blocks features the D'Ora Bamboo line of garment racks with shelves. A family-owned business founded in the United Kingdom, Global Building Blocks' the prime objective is to offer a range of household products made using sustainable alternatives. The company is dedicated to ensuring your purchase meets our three core goals of which are quality assured, authentically pleasing and durability.
JTP Wholesale
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JTP Wholesale is a wholesale website offering monogrammed coasters, IcyBags, and Keeping It Positive affirming sheets and pillowcases.
Magnolia Lane Collection
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At Magnolia Lane, our desire is to produce gifts that become part of celebrations, memories, and family treasures. Our licensed tailgating products, Christmas line, The South collection, and outdoor decor will enhance and compliment every occasion! We are proud of what we do and are ever grateful and dedicated to our customers.
Mills Gourmet
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Mills Gourmet says, "Our products are available in our local area and throughout the US! Every gourmet mix we cultivate is made from scratch right here in our kitchen with the same needs in mind---taste, quality and affordability. We are proud of every single product in our inventory, and we promise our unique blends will give you a taste of real goodness!"
Mountaineer Floral
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Mountaineer Floral, LLC, is a family-owned silk floral wholesale company specializing in silk flower bushes, silk floral Styrofoam, decorative silk sympathy designs, baskets, and ribbon (seasonal, shear, tuxedo, and floral satin). Over the past 30 years, The company has built relationships with customers from North Carolina, South Carolina, Georgia, Tennessee, Virginia, West Virginia, and Kentucky. Mountaineer Floral's business is a blend of high quality products at reasonable prices. The company is family owned and operated, now in the third generation.
Nebibo
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Nebibo says, "Our mission is to get kids off their electronic devices and out exploring the world. We'd love for you to come on that journey with us. We started this journey when we realized there was no recognizable and reliable snorkeling brand that parents could feel assured their kids would be safe using. We are that brand!" The product is full-face snorkel mask with a 180-degree view and water-tight seal in the patented shark design. The "fin" is designed to seal in the event the snorkel goes under water. Made of non-toxic materials.
The Pocket Plus
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The Pocket Plus is portable pockets that attach with magnets for a convenient way to carry things on the go. The Pocket Plus is made in the USA and comes in seven different sizes and is available in over ten colors – perfect for holding your phone, a water bottle, keys, your wallet, and more! It’s a great, inexpensive gift idea for someone of almost any age.
Pure Factory Naturals
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Pure Factory Naturals collections, including Flip Flop Foot Repair,Splash. The collection includes lip balm, foot repair, body lotion, hand cream, solid lotion bar, salt glow, skin repair.
Pure Mana Hawaii
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Pure Mana Hawaii Founders Sue Mandini and Kollette Stith bring the wisdom of living close to the land and in harmony with nature's rhythms to the marketplace in their luxury skincare line. Built from the ground up, the brand features wild harvested ingredients and a synergy of raw, wild macadamia nut oil and green coffee bean oil, grown on their family's certified organic farm, Mahina Mele in Hawaii.
Quintessential Chocolates
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Quintessential Chocolates specializes in the centuries old art form of casting “Liqueur Praliné” or the European style Liquid Center Chocolates (“with a sugar crust”). The process the company uses is more than 200 years old. Quintessential is the only manufacturer of this specialty confection in America and has been creating these chocolates since 1984.
Red Carpet Studios, Ltd.
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Red Carpet Studios, Ltd. features All Jazzed Up™ Fashion Accessories for Fall & Spring. A wide range of Giftware for the Home & Garden. Visit our website for New Products & Specials.
Reginas Farm Kitchen
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Small-batch artisan fruit spreads from Regina's Farm Kitchen® are made from the heart, the old-fashioned way. With only real fruit, no preservatives, artificial sweeteners or thickeners. Each of our unique flavors is carefully crafted to ignite your culinary curiosity or jazz up your next event. We invite you to try us.
Rudolph and Me
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Joe and Sue Brielmann have taken their combined experience of over 28 years in personalized products and design to create one of the fastest growing cart businesses in the country. Their creative ability, attention to detail, and the highest standards for quality and customer support, are among the reasons Rudolph and Me has experienced such huge growth.
Sunset Vista Designs
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Sunset Vista Designs offers you extra margin opportunities, and sells thru at retail. They offer innovative designs, in proven products, with space saving merchandising solutions, and attractive package deals that all add value to the quality products we offer. Many say this is the "best ever" line of innovative gift, garden, and home decor.
Tizo Design
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Lines include Tizo and Siena frames in a variety of styles and colors plus elegant candleholders from tea lights to pillar candles. The site also features boxes and trays in a variety of materials.
The Whitehurst Company
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The Whitehurst Company has roots in the Christmas and Home Holiday industry dating back to 1947, first started by Mr. and Mrs. Morris Whitehurst. Now owned and managed as a multi-generation, family-owned business, The Whitehurst Company offers you a wide selection of holiday decor. Products include the largest selection of solid colored ornaments, curated collections of European glass molds, along with licensed products that include Zim’s Elves Themselves, Zim's Collectible Heirloom Nutcrackers and Children of the Inner Light by Marci inspirational ornaments.
WoodU
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WoodU is a family-run business, dedicated to developing and distributing world-class and sustainable single-use cutlery and diverse wooden products. WoodU says, "Simplify life with our eco-friendly wooden cutlery. In a world focused on the environment and health, WoodU isn't just practical – it's a mindful choice for a healthier planet."
ZappoBZ
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ZappoBZ features Home to fun handmade accent decors, capiz figurine lamps, and hand-painted bamboo curtains. Categories also include bird feeders and figurines.
Billy Joe Homewares