26 Footwear Insight Business Report Quarterly ~ Q2 July 8 2024 footwearinsight.com
Image:
www.nuorder.com
W
ith less than four months remaining
before the Nov. 5 election, inflation
remains a primary concern of many
Americans. Aer Q1 failed to deliver
a significant contraction in the
inflation rate, the Federal Reserve is banking
on inflationary readings to come down more
aggressively in the second half of 2024, enabling
it to revisit interest rate cuts. In the meantime,
consumers and businesses alike have adopted
strategies to cope with impacts from high inflation.
Experts contend that inflation affects all in the
population, wealthy or not, and that keeping it
under control is imperative. Core inflation, which
does not include food and energy prices, rose
by 3.3 percent in May. Overall inflation remains
more than a percentage point higher than the Fed's
target rate of 2 percent. While the Fed has pulled
back on three likely interest rate cuts this year
to likely only one, it fully realizes that a lengthy
period of high interest rates will place pressure
on U.S. economic growth and could eventually
push the U.S. into a recession.
Footwear Insight-Business Review Quarterly
recently reached out to execs at publicly traded
Lightspeed for their outlook on U.S. inflation
INFLATIONARY WOES
INTERVIEW: NUORDER BY LIGHTSPEED
By working
more efficiently
together, brands
and retailers can
endure inflation,
react faster
to changing
consumer demand
and improve
business processes
for the future.
