Tanger CEO Yalof: Consumer Spending Despite Low Confidence
- shoppers are demonstrating resilience this holiday season, willing to spend despite economic anxieties, but only when presented with compelling deals, according to Tanger CEO Stephen Yalof.
- "retailers are discounting to meet the consumer, and the consumer is responding by shopping," Yalof said on CNBC's "Money Movers." Tanger focuses on providing access to premium brands...
- retailers within Tanger's outlet portfolio have heavily utilized promotions throughout the holiday season, successfully maintaining traffic and sales.
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Holiday Spending Remains strong Despite Consumer Concerns: Tanger CEO
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U.S. shoppers are demonstrating resilience this holiday season, willing to spend despite economic anxieties, but only when presented with compelling deals, according to Tanger CEO Stephen Yalof.
“retailers are discounting to meet the consumer, and the consumer is responding by shopping,” Yalof said on CNBC’s “Money Movers.” Tanger focuses on providing access to premium brands at consistently attractive prices.
retailers within Tanger’s outlet portfolio have heavily utilized promotions throughout the holiday season, successfully maintaining traffic and sales. Customers are seeking a balance between price and value, willing to spend more if they perceive a strong deal.
“I feel like the customer is vrey resilient,” Yalof stated.”They’re looking to spend.” He noted strong traffic at Tanger’s outlet centers, evidenced by full parking lots throughout November and December.
This sentiment aligns with recent data indicating that consumer spending is exceeding expectations based on confidence levels. Preliminary data from Visa shows a 4.2% year-over-year increase in U.S.retail spending during the holiday season (before inflation adjustment).
Data on Holiday Retail Spending
| Metric | Value | Source |
|---|---|---|
| Year-over-Year Retail Spending Increase | 4.2% | Visa |
Yalof also highlighted the anticipated strong performance of Gap during the holiday season. (Source)
Sources: