The business of retail depends on consumers having access to credit instruments to make their purchases, and as we head into 2024, consumers are increasingly credit marginalized. Credit cards have been tapped to make holiday gift and related purchases, and as a result of all of this spending and the increasing debt load consumers are carrying these days, it's now reported that about 30% of consumers have low credit scores, that being 650 or less, and that has them being denied access to additional credit. All cuts into consumer spending and retail revenue.

National Retail Federation expects that this year's Super Saturday will see a surge in, in-store shopping of the 142 million people predicted to finish their holiday shopping. 53 million, intend to do all of their buying in stores up from 44 million last year and 58 million or 41% of the total plan to shop online and in store.

Pew Research Center Teams Social Media and Technology 2023: almost half of US teens are using social media. These statistics on social media usage by teens are relevant to the interests of businesses, especially those catering to a younger demographic.

The over 50s, an amalgamation of three generations, gen X, baby boomers, and the silent generation, are all digital savvy. Are active on social media, consume content on desktop and mobile, and even follow influencers that target them, and they're spending on everything from automotive to technology to household appliances.

65% of businesses acknowledge they are integrating generative AI into their tech, that according to AI Marketing Transformation Index. Monica Ho, CMA of Soci says "it's clear that while we navigate the benefits of AI, we must also carefully manage its perception among consumers".

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With the most aggressive Federal Reserve interest rate hikes in decades, many small business owners are faced w/ double digit percentage loans, and that is if they can access lending at all in a much tighter banking and credit environment. On top of rising cost of supplies and wages, and it's just a really tough environment for small businesses to be operating these days.

Roughly 72% of American consumers shopped Black Friday this year. U.S. retail sales totaled 9.8 billion, that's a 2.5% growth year over year on Black Friday. In store sales increasing 1.1%, and e-commerce sales rising 8.5%.

National Retail Federation is predicting that 74% of holiday shoppers plan to shop in earnest starting this weekend, the highest estimate since the NRF began tracking this data in 2017. People still love Black Friday best, with 72% or an estimated 130 million people planning to shop that day, 39% saying they plan to shop that day in addition to or instead of Black Friday.

Dell has been a great friend to small businesses here in the Great Lakes region. They have announced a $1K shopping spree to 3 lucky winners in the Black Friday Cyber Monday giveaway to spend on Dell's products aimed at helping entrepreneurs succeed. Go to startupnation.com/Dell