Blog – What is next for Retail Sector and Consumer Spending – August 2023
Despite months of predictions for a global recession, consumer activity and corporate earnings are holding up surprisingly well. We believe that global long-term interest rates probably peaked in October last year, and we are now observing encouraging signs of the start of corporate earnings re-acceleration.
Clearly, we are not completely out of the woods yet. Inflation is still sticky and further rate hikes are expected over the next few months, but when we look under the hood at the companies we research, resilience stands out.
This global resilience has been surprising to all of us. In Europe, consumers seemed to sail through a severe energy crisis last winter, and in the US, consumer activity in both discretionary and staples has far exceeded most expectations at the beginning of the year.
https://www.firstlinks.com.au/global-consumer-corporate-resilience-surprises-everyone
Links and sources:
Supply chain - https://www.waffleinsurance.com/resources/insuranpedia/how-do-loss-prevention-services-address-potential-risks-arising-from-supply-chain-disruptions
Fashion and their new business model - https://www.esginvestor.net/fast-fashion-race-losing-speed/
Retailing and Technology - https://www.retaildive.com/news/retail-industry-AI-adoption/691426/
Generative AI - https://www.pymnts.com/news/artificial-intelligence/2023/generative-ai-helps-auto-fill-b2b-complexities-streamlining-communications/
Logistics - https://enable.com/blog/top-challenges-facing-the-distribution-industry-how-to-overcome-them
Coles - https://www.foodmag.com.au/coles-to-partner-with-suppliers-to-set-emission-reduction-targets-by-2027/
How to best manage data - https://www.demandtalk.com/insights/data/big-data/the-power-of-retail-data-analytics-understanding-its-role-and-the-different-types/
Valdi - https://www.forbes.com/sites/walterloeb/2023/08/21/why-aldi-acquisition-of-winn-dixie-and-harveys-supermarket-is-a-big-win/?sh=6c90ed4445b9
Partnerships - https://www.verdictfoodservice.com/comment/food-service-retail-partnerships/
Sustainable shopping - https://retail-focus.co.uk/shopping-for-sustainability/
Automation - https://www.retailcustomerexperience.com/articles/reasons-why-retailers-are-marching-fast-toward-automation/
Robotics - https://www.tbsnews.net/world/global-economy/retailers-turn-robots-cost-inflation-fight-543282
Social governance and retailing - https://www.fashionabc.org/why-the-fashion-industry-has-to-balance-profit-with-esg-and-purpose/
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Retail Sales and Consumer Spending Analysis and Commentary - July 2023.pptx
1. Retail Sales and
Consumer
Spending Analysis
and Commentary
- August 2023
PAUL YOUNG CPA CGA
SENIOR CUSTOMER SUCCESS
MANAGER – DATA
AUGUST 23, 2023
2. Paul Young - Bio
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – ESG and Sustainability Policies and
Reporting
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@outlook.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
CGA, CPA
Senior Customer Success Manager – Data and AI
3. Agenda
USA vs Canada
(Retail Sales)
Gasoline Prices
Canada Retail Sales
by Segment
Canada Retail Sales
by Province
Canada /
eCommerce
Global eCommerce
Issues facing Retail
Retail Council /
2021 Federal
Budget
Canada Retail Sales
Bankruptcies /
Reorganizations
Home Renovations Amazon
Cannabis Stores /
Canada
Automation Sales Forecasting Supply Chain
Cash Flow
Management
Risk Analytics /
Retail
Planning Analytics
and Cognos
Analytics
4. Retail Sales – Canada vs United States
Source – BMO economics
12. Issues facing Retail
Source - https://linchpinseo.com/common-challenges-facing-the-retail-industry/
1. Digital interruption
2. Finding Technological Solutions
3. Maintaining your customer base
4. Evolving customer expectations
5. Modern marketing
6. Inspiring and retaining employees
7. Effective internal communications
13. Automation
RPA / Retail - https://medium.com/@savvycom/rpa-101-applications-of-
rpa-in-retail-industry-46b90a53bbe6
Restructuring of business models for retail will include automation -
https://www.technology.org/2020/08/06/covid-19-will-encourage-
automation-in-retail-sector/
Business process automation / retail -
https://www.impactmybiz.com/blog/business-process-automation-in-
retail/
Retail Edge Stores - https://www.jabil.com/blog/retail-automation.html
Rebooting stores through automation -
https://retailtouchpoints.com/resources/rebooting-the-retail-store-
through-in-store-automation
Augment Reality / eCommerce - https://www.yahoo.com/lifestyle/now-
could-finally-time-augmented-181954198.html
Virtual Reality / eCommerce - https://supplychaingamechanger.com/how-
virtual-reality-vr-is-drastically-enhancing-the-e-commerce-shopping-
experience-infographic/
14. Blog –
Containers
Last month, a series of COVID-19 outbreaks in Chinese ports caused the worst
shipping delays in years, the impacts of which we will likely still be feeling by
the time the holiday season arrives. But port closures are only part of the story
behind the recent shipping delays impacting virtually every sector, from
furniture deliveries to food product shortages.
Shipping containers, especially refrigerated ones, have been extremely hard for
manufacturers and distributors to find and fill with goods over the past few
months. A key element of the supply chain, shipping containers transport large
volumes of goods along global shipping routes. Problems first arose in early
2020 when shipping lines canceled some routes amid growing COVID-19 case
numbers worldwide, but shipping container availability worsened as
unpredictable port closures, the Suez Canal blockage, and intensifying labor
shortages left containers stranded. As a result, international freight costs have
also grown dramatically, with limited availability, lengthy delays, and
lackluster service causing issues throughout the global supply chain.
https://www.thomasnet.com/insights/record-breaking-box-demand-stranded-
containers-lead-to-worst-shipping-delays-in-years/?ecms_id=7a28bad3-cea7-44d2-b9f6-
4897b99c1042&ecms_short=ART5655&doc_type=ted_video_article&parent_id=949c24
0b-29da-4827-aa56-
f2d4e5339f53&utm_content=featuredvideo&linktype=image&channel=email&campaign
_type=thomas_industry_update&campaign_name=tiu210816&utm_campaign=tiu21081
6&utm_medium=email&utm_source=thomas_industry_update&tinid=221763045
Here is my work on supply chain -
https://ibm.box.com/s/bqy9mr0ktlgi64sbf49o4rg5d9w0rqkn
19. Continuous
Intelligence
Planning
Blog – Mitigating risks with the supply chain using more
intelligence supply chain management solutions:
The complexity of supply chains has led both the private and
public sectors to re-think how they managed their supply chain
including the use of infused-AI.
This presentation looks at possible solutions as part of mitigating
risks related to purchasing to pay cycle as part of managing the
supply chain cycle.
https://ibm.box.com/s/63aqf8jo004v2bo5f8cf6eppgglhbvs5
20. ESG Reporting
Blog – Sustainability Reporting – Environmental, Social and
Governance Reporting (ESG)
Here is my update on ESG reporting. Both the private and public
sectors continue to expand reporting in areas like environmental,
social, and governance.
Source -
https://www.ibm.com/products/envizi?utm_content=SRCWW&p
1=Search&p4=43700072769102092&p5=e&gclid=CjwKCAiA9NGf
BhBvEiwAq5vSywPOE60WwM329FuWScZZL3koFUAW4ZBdlA3OY
XM0fBebz7qNw5q2sRoC_BwQAvD_BwE&gclsrc=aw.ds
Blog - 10 key ESG and sustainability trends, ideas for both
the Private and Public Sectors -
https://www.linkedin.com/posts/paul-young-055632b_10-
key-esg-and-sustainability-trends-ideas-activity-
7042799510351212545-
hwpI?utm_source=share&utm_medium=member_desktop
21. Planning
Analytics and
Cognos
Analytics
Small and medium sizes businesses continue to
struggle with management of their data
Planning Analytics Digital Pack -
https://www.ibm.com/support/knowledgecenter/SSD29
G_2.0.0/com.ibm.swg.ba.cognos.tm1_cloud_mg.2.0.0.do
c/c_tm1_cloud_system_digital_pack.html
Cognos Analytics on Demand -
https://community.ibm.com/community/user/businessa
nalytics/blogs/david-cushing/2018/12/13/1
Planning Analytics with Cognos on Demand –
https://community.ibm.com/community/user/businessa
nalytics/blogs/bimpe-
adefowora/2020/11/11/padataondemand
Predictability -
https://community.ibm.com/community/user/businessa
nalytics/blogs/stuart-martin-phillips1/2020/10/02/easy-
forecasting-for-planning-users
22. Cybersecurity
Blog - Improving cybersecurity means understanding how
cyberattacks affect both governments and civilians -
https://www.linkedin.com/pulse/blog-improving-
cybersecurity-means-understanding-how-paul-
young/?published=t
23. Governance,
Risk, and
Compliance
Blog - IBM OpenPages with Watson can deliver a 218% return on
investment, finds Forrester study
https://www.ibm.com/blogs/watson/2020/12/ibm-openpages-with-
watson-can-deliver-a-218-return-on-investment-finds-forrester-
study/?campaign=socialselling&share=592db045-fde8-43e9-8ce3-
ff8d18fc175b&channel=linkedin&userID=cfad680f-7c88-4a2e-82e9-
f052d0bc4447&advocacy_source=everyonesocial&es_id=581e0fab6d
This ties nicely into my work on data, AI, security, and Platform -
https://www.slideshare.net/paulyoungcga/strengthen-internal-controls-
and-compliance-through-data-and-ai-as-part-of-the-regulatory-and-
corporate-reporting-cyclepptx-257453565
24. Summary
Retail sector continues to face challenges
Blog – What is next for Retail Sector and Consumer Spending – August 2023
Despite months of predictions for a global recession, consumer activity and corporate earnings
are holding up surprisingly well. We believe that global long-term interest rates probably peaked
in October last year, and we are now observing encouraging signs of the start of corporate
earnings re-acceleration.
Clearly, we are not completely out of the woods yet. Inflation is still sticky and further rate hikes
are expected over the next few months, but when we look under the hood at the companies we
research, resilience stands out.
This global resilience has been surprising to all of us. In Europe, consumers seemed to sail
through a severe energy crisis last winter, and in the US, consumer activity in both discretionary
and staples has far exceeded most expectations at the beginning of the year.
https://www.firstlinks.com.au/global-consumer-corporate-resilience-surprises-everyone
Links and sources:
Supply chain - https://www.waffleinsurance.com/resources/insuranpedia/how-do-loss-prevention-
services-address-potential-risks-arising-from-supply-chain-disruptions
Fashion and their new business model - https://www.esginvestor.net/fast-fashion-race-losing-speed/
Retailing and Technology - https://www.retaildive.com/news/retail-industry-AI-adoption/691426/
Generative AI - https://www.pymnts.com/news/artificial-intelligence/2023/generative-ai-helps-auto-fill-
b2b-complexities-streamlining-communications/
Logistics - https://enable.com/blog/top-challenges-facing-the-distribution-industry-how-to-overcome-
them
Coles - https://www.foodmag.com.au/coles-to-partner-with-suppliers-to-set-emission-reduction-targets-
by-2027/
How to best manage data - https://www.demandtalk.com/insights/data/big-data/the-power-of-retail-
data-analytics-understanding-its-role-and-the-different-types/
Valdi - https://www.forbes.com/sites/walterloeb/2023/08/21/why-aldi-acquisition-of-winn-dixie-and-
harveys-supermarket-is-a-big-win/?sh=6c90ed4445b9
Partnerships - https://www.verdictfoodservice.com/comment/food-service-retail-partnerships/
Sustainable shopping - https://retail-focus.co.uk/shopping-for-sustainability/
Automation - https://www.retailcustomerexperience.com/articles/reasons-why-retailers-are-marching-
fast-toward-automation/