World

Retailers ready to kick off unofficial start of the holiday season just as shoppers pull back

Published

1 year ago

November 23, 2023

Retailers ready to kick off unofficial start of the holiday season just as shoppers pull back

NEW YORK (AP) — Retailers are kicking off the unofficial start of the holiday shopping season on Friday with a bevy of discounts and other enticements. But executives are growing concerned with a spending slowdown that could temper sales on the day after Thanksgiving as well as throughout the holidays.

Shoppers, powered by a solid job market and steady wage growth, had demonstrated a resilience that confounded economists and ran counter to sour sentiments expressed in opinion polls. Such spending, while cautious, came despite higher prices in the grocery aisle and higher borrowing costs.

But consumers are now coming under more pressure from dwindling savings, increased credit card debt and still stubborn inflation. In fact, shoppers cut their buying in October, ending six straight months of gains. Shoppers have gotten some relief from easing inflation, but many goods and services like meat and rent are still far higher than they were just three years ago.

The latest quarterly results from a string of retailers from Walmart to Best Buy have reported a weakening consumer. Walmart said it noticed shoppers cutting back in October and offered a muted annual sales outlook. Best Buy, the nation’s largest retailer, said shoppers are trading down to cheaper TVs. And Target said shoppers are waiting longer to buy items. For example, instead of buying sweatshirts or denim back in August or September, they held out until the weather turned cold.

“It’s clear that consumers have been remarkably resilient,” Target’s CEO Brian Cornell told analysts last week. “Yet in our research, things like uncertainty, caution and managing a budget are top of mind.”

Even luxury retailers are noting their shoppers are feeling pinched.

“We’re taking a measured approach. There’s been some softening,” said Marc Metrick, CEO of Saks Fifth Avenue’s standalone online business, Saks. “I don’t think (the holiday season) is going to be some horrible business nor is it going to be some kind of explosive holiday season.”

The National Retail Federation, the nation’s largest retail trade group, expects shoppers will spend more this year than last year, but their pace will slow given all the economic uncertainty.

The group has forecast that U.S. holiday sales will rise 3% to 4% for November through December, compared with a 5.4% growth of a year ago. The pace is consistent with the average annual holiday increase of 3.6% from 2010 to pre-pandemic 2019. Americans ramped up spending during the pandemic, with more money in their pockets from federal relief checks and nowhere to go during lockdowns. For the holiday 2021 season, sales for the two-month period surged 12.7%.

Many retailers had already ordered fewer goods for this holiday season and have pushed holiday sales earlier in October than last year to help shoppers spread out their spending. An early shopping push appears to be a trend that only got more pronounced during the pandemic when clogs in the supply network in 2021 made people buy early for fear of not getting what they wanted.

But retailers said that many shoppers will be focusing more on deals and will likely wait until the last minute. Best Buy said it’s pushing more items at opening price points, while Kohl’s has simplified its deals, promoting items under a certain price point like $25 at its stores.

Barbara Lindquist, 85, from Hawthorne Woods, Illinois, said she and her husband plan to spend about $1,000 for holiday gifts for her three adult children, 13 grandchildren and three great-grandchildren. That’s about the same as last year.

But Lindquist, who continues to work as a pre-school teacher at a local church, said she’ll be more focused on deals given still high prices on meat and other staples. And she plans to buy more gift cards, which she believes will help her stick to her budget.

“I go for value,” said Lindquist, who just picked up discounted sheets and towels at Kohl’s for friends who will be visiting from Panama during the holidays.

Online discounts should be better than a year ago, particularly for toys, electronics and clothing, according to Adobe Analytics, which tracks online spending. It predicts toys will be discounted on average by 35%, compared with 22% a year ago, while electronics should see 30% cuts, compared with last year’s 27%. In clothing, shoppers will see an average discount of 25%, compared with 19% last year, Adobe said.

Analysts consider the five-day Black Friday weekend — which includes the Monday after the holiday known as Cyber Monday — a key barometer of shoppers’ willingness to spend. And Black Friday is expected to be once again the busiest shopping day of the year, according to Sensormatic Solutions, a firm that tracks store traffic. On average, the top 10 busiest shopping days in the U.S are expected to once again account for roughly 40% of all holiday retail traffic, Sensormatic said.

Stores have been increasingly pushing Black Friday-type deals all month, helping to perk up business.

Adobe Analytics reported that from Nov. 1 through Monday, consumers spent $63.2 billion online, up 5% compared with the year-ago period and outpacing its estimate of 4.8% for the two-month holiday period.

However, Marshal Cohen, chief retail adviser at Circana, a market research firm, said he thinks that shoppers will just stick to a list and not buy on impulse. He also believes they will take their time buying throughout the season.

“There’s no sense of urgency,” Cohen said. “The consumers are saying, ‘I will shop when it’s convenient for me.’”

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World

Consejos para disfrutar de las celebraciones de fin de año, sin estrés

Published

7 hours ago

December 25, 2024

Press Room

Consejos para disfrutar de las celebraciones de fin de año, sin estrés

NUEVA YORK (AP) — Todos conocemos los factores de estrés: obligaciones sociales, rencillas familiares, divisiones políticas, estrés financiero y el deseo de mantenerse alegre y generoso todo el tiempo.

Así que aquí va un recordatorio sobre cómo desterrar a tu perfeccionista interior y disfrutar verdaderamente de la temporada festiva:

“Realmente ayuda dejar de lado algunos de los ‘deberías’”, dice Lynn F. Bufka, jefa de práctica de la Asociación Estadounidense de Psicología. “Decide cuál es la cosa que más importa, y las cosas que te brindan más alegría, y suelta las demás”.

Las tradiciones pueden cambiar y evolucionar, y cuanto más flexibles sean las cosas, más fácil será para todos, dice Bufka.

“Concentra tu energía en crear un espacio cálido para que las personas que amas se reúnan y relajen, se pongan al día y celebren unos a otros. Eso es literalmente todo lo que importa”, concuerda Lauren Iannotti, editora en jefe de Real Simple.

Algunos consejos:

Concéntrate en lo que te hace feliz

Podrías decidir que la conversación es tu objetivo principal y no preocuparte en absoluto por la decoración, dice Bufka. O si la decoración de la mesa es lo que amas, invierte tu energía allí y no te preocupes tanto por otros aspectos.

“Idealmente, debería tratarse de enfocarse en el amor, y eso no significa lo mismo para todos”, dice Bufka.

Permite que otros hagan las cosas por ti.

“La gente quiere ayudar, ¡déjalos!”, dice Iannotti. “Si no te ENCANTA cocinar todas esas guarniciones, o tienes poco tiempo, no hay ninguna vergüenza en aceptar que tu hermana haga el relleno. O busca ayuda de los profesionales: apoya a un restaurante local haciendo un pedido de catering”.

Otra opción es que “cada uno traiga un plato distintivo”, dice Ianotti. “Ahorrarás tiempo y dinero en la preparación y la cocina y tus invitados podrán mostrar sus habilidades”.

Darte permiso para tomar atajos

“Está bien si la casa está un poco desordenada o si la cena se sirve unos minutos tarde”, dice Iannotti. “Si las personas que has invitado están más interesadas en evaluar tu desempeño que en pasar un buen rato, pueden discutirlo con su terapeuta”. (Por cierto, no lo están, añade ella).

Y no dudes en dejar que la gente se sirva por sí misma, cuando sea posible. “Si no tienes tiempo para jugar a ser el barman, crea una bebida insignia con anticipación que puedas servir a todos tus invitados. También puedes simplemente dejar algunos mezcladores para que los invitados se sirvan y hagan sus propias creaciones”, sugiere Caroline Utz, directora editorial y de estrategia en The Spruce.

Está bien tener tiempo a solas

Las cosas funcionarán lo suficientemente bien si no lo supervisas todo, así que cuídate. Tómate pausas o caminatas si eso te ayuda a mantenerte centrado.

“Aunque el mindfulness se está convirtiendo en un término demasiado utilizado en la sociedad actual, hay algo valioso que podemos tomar de esto y aplicar a la temporada de fin de año”, dice Brook Choulet, psiquiatra deportiva y de rendimiento de concierge y fundadora de Choulet Performance Psychiatry.

Ella recomienda “programar microdescansos intencionales” para hacer algo que disfrutes.

“Por ejemplo, podrías programar una llamada telefónica con un amigo de otro estado, tomar un paseo de 15 minutos al aire libre, o incluso ajustar el temporizador y tomar un baño de 15 minutos sin interrupciones”, dijo.

Espera algo de discordia y no te alarmes por ello

“Si te preocupa la polarización y entrar en conversaciones incómodas, intenta pensar en maneras en que puedas terminar una conversación o cambiarla de dirección”, dice Bufka.

Ella recomienda preparar algunas frases de antemano para ayudar a terminar la conversación o cambiarla de dirección.

En resumen, tener la intención de una temporada festiva menos perfecta puede ser justo lo que necesitas.

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Katherine Roth cubre temas de vida y estilo y otros temas para The Associated Press desde Nueva York.

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Esta historia fue traducida del inglés por un editor de AP con la ayuda de una herramienta de inteligencia artificial generativa.

World

Azerbaijan Airlines plane headed to Russia crashes hundreds of miles off course, dozens feared dead

Published

8 hours ago

December 25, 2024

Press Room

Azerbaijan Airlines plane headed to Russia crashes hundreds of miles off course, dozens feared dead

Dozens of passengers are feared dead after an Azerbaijan Airlines flight crashed near the city of Aktau in Kazakhstan on Wednesday, reports say.

The Embraer 190 passenger jet flying from Azerbaijan to Russia had 62 passengers and five crew on board, Kazakh authorities announced, saying 32 survivors had been rescued.

Flight J2-8243 had flown hundreds of miles off its scheduled route to crash on the opposite shore of the Caspian Sea. Officials did not immediately explain why it had crossed the sea, but the crash came shortly after drone strikes hit southern Russia. Drone activity has shut airports in the area in the past and the nearest Russian airport on the plane’s flight path was closed on Wednesday morning.

Russia’s aviation watchdog, meanwhile, said it was an emergency that may have been caused by a bird strike.

MORE THAN 30 DEAD IN BRAZIL BUS AND TRUCK COLLISION

In this photo taken from a video released by the administration of Mangystau region, the wreckage of Azerbaijan Airlines Embraer 190 lies on the ground near the airport of Aktau, Kazakhstan, Wednesday, Dec. 25, 2024. (The Administration of Mangystau Region/AP Photo)

Those aboard the plane included 42 Azerbaijani citizens, 16 Russian nationals, six Kazakhstani and three Kyrgyzstani citizens, according to Kazakhstani officials.

Russian news agency Interfax reported that both pilots died in the crash, citing a preliminary assessment by emergency workers at the scene. The news agency also quoted medical workers who stated that four bodies had been recovered from the crash so far.

A total of 29 survivors, including two children, have been hospitalized, the ministry told Russia’s state news agency, RIA Novosti, the Associated Press reported. Many passengers have yet to be accounted for.

MALAYSIA AGREES TO RESUME ‘NO FIND, NO FEE’ HUNT FOR FLIGHT MH370, 10 YEARS AFTER PLANE DISAPPEARED

More than 30 are feared dead following the crash near the Kazakhstani city of Aktau. (Azamat Sarsenbayev/AP Photo)

Video of the crash showed the plane descending rapidly before bursting into flames as it hit the seashore, and thick black smoke then rising, Reuters reported. Bloodied and bruised passengers could be seen stumbling from a piece of the fuselage that had remained intact.

Azerbaijani President Ilham Aliyev, who had been traveling to Russia, returned to Azerbaijan upon hearing news of the crash, the president’s press service said. Aliyev was due to attend an informal meeting of leaders of the Commonwealth of Independent States, a bloc of former Soviet countries founded after the collapse of the Soviet Union, in St. Petersburg.

Emergency crews at the site of the Azerbaijani airliner crash on Dec. 25, 2024. (Azamat Sarsenbayev/AP Photo)

Aliyev expressed his condolences to the families of the victims in a statement on social media.

“It is with deep sadness that I express my condolences to the families of the victims and wish a speedy recovery to those injured,” he wrote.

He also signed a decree declaring Dec. 26 a day of mourning in Azerbaijan.

The plane was en route from the Azerbaijani capital of Baku to the Russian city of Grozny in the North Caucasus, the Associated Press reports. (The Administration of Mangystau Region/AP Photo)

In a statement, Azerbaijan Airlines said it would keep members of the public updated and changed its social media banners to solid black.

“We ask God for mercy on the passengers and crew members who lost their lives,” a translated statement on X said. “Their pain is our pain. We wish a speedy recovery to those injured.”

Reuters and the Associated Press contributed to this report.

World

Who is Europe's top investor in space in 2023?

Published

9 hours ago

December 25, 2024

Press Room

Who is Europe's top investor in space in 2023?

Luxembourg remains Europe’s top investor in space in a year when defence spending on space exceeded civil space budgets for the first time since the 1990s.

Global public investment in space hit a record high of €106 billion in 2023, an 11% increase compared to 2022.

In Europe, the total funding was €11.9 billion, showing a modest 1% rise in its share of global space investment.

According to the European Space Agency, defence spending on space exceeded civil space budgets last year for the first time since the 1990s. Defence expenditures in space are projected to grow faster than civil spending, making up 53% of the budget in 2024.

The US continues to dominate global space investment, accounting for 64% of the total budget, while China holds a strong second place, growing its share from an estimated 2% in 2000 to 12% in 2023 through long-term programmes in both civil and defence.

Europe ranks third, contributing 11% of the global space budget in 2023.

What share of their GDP do EU countries spend on public space budgets?

Luxembourg remains Europe’s leading investor in space, dedicating 0.135% of its Gross Domestic Product (GDP) to the sector.

Globally, the country ranks third behind the US (0.262%) and Russia (0.169%).

In Europe, Luxembourg is followed by France, which invests 0.167% of its GDP, Italy at 0.103%, and Belgium at 0.095%.

On the other hand, private investment in space has continued to decline in 2023, dropping by 32% compared to 2022.

Europe also saw a 14% decrease in 2023 compared to the year before, with private space ventures receiving just below €980 million.

Although the US accounts for most of the global decline in 2023, its space sector continues to attract the largest share of investments at 60%, followed by Europe with 16% and China with 9%.

What was the state of space activity in 2023?

There were 221 orbital launches in 2023, an 18% increase compared to 2022.

Yet, a total of 212 launches were successful.

The US carried out more than half of the launches, with 96 of them conducted by SpaceX.

China accounted for 30% with 67 launches, a 5% increase from 2022, and Russia completed 19 launches.

The European launch service provider conducted three launches in 2023, including Europe’s first mission to Jupiter, which aimed to explore whether the planet’s three moons — Callisto, Europa, and Ganymede — could support life in their oceans.

Video editor • Mert Can Yilmaz