التحديات الاقتصادية والجيوسياسية تخطف شهية الإنفاق في الأعياد!
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00:00 With the end of 2023 approaching, the season of shopping for holidays has arrived.
00:06 Shopping malls and shopping malls have begun to prepare their marketing strategy,
00:12 but how does the spending of consumers seem at this time?
00:15 And do the economic challenges and geopolitical tensions affect the purchasing power?
00:21 Let's look at the details.
00:23 It is no doubt that the inflation had an effect on the prices of goods and on the spending of consumers in general.
00:28 Shopping malls in America began to lower the prices of goods, mainly electronics.
00:34 We saw a drop in inflation rate of 3.1% in November on an annual basis.
00:40 It is worth mentioning that in 2021 we saw a 12.7% increase in spending compared to 2020.
00:49 As for this year's expectations, it indicates that the inflation rate increased by 3.4% compared to 2022,
00:58 but with a slower drop than in 2020 due to the increase in inflation and this effect on the prices of goods.
01:04 The luxury goods sector in general was also affected by what is happening.
01:10 We saw a drop in the luxury goods sector and the inflation rate on luxury goods declined by 15%,
01:16 and luxury goods purchases declined by 9.6%, and this was in November on an annual basis.
01:23 As for the performance of stocks, we saw a 12% decline in VMH,
01:28 and a 33% decline in Burberry since August.
01:32 But how does the behavior of consumers in America look like?
01:36 It is no doubt that the marketing during the holidays this year was earlier than the end of 2022,
01:43 and this was due to a decrease in the prices of goods.
01:46 We saw about 50% of the marketing in October and 40% in November.
01:52 The purchasing and payment services were later greatly affected by the popularity among Americans.
01:58 About $8.3 billion were purchased by Americans in November alone this year.
02:05 But let's also talk about the supply chains and the challenges that these supply chains faced in general
02:12 in view of geopolitical tensions in the Middle East, specifically in the Gaza Strip.
02:18 We saw that about 42% of commodity companies expect a shortage of stock in products,
02:25 and also 75% of them are looking for a local source to fight the expected shortage of stock.
02:33 About 35% of them are expecting a shortage of business.
02:37 But geopolitical tensions did not only affect the prices of goods and the spending of consumers,
02:43 but also affected tourism in these areas, specifically in the areas close to the Gaza Strip.
02:51 In view of the S&P Global report, we saw a decrease in tourism in Egypt,
02:56 which was between 10% and 30%, and also a decline in the total local product in Lebanon
03:03 by 10% in view of their geographical location close to the Gaza Strip.
03:08 But in 2022, tourism contributed to the increase in the income of the local economy in Lebanon, Jordan and Egypt,
03:19 before the war broke out in Gaza.
03:21 Here, tourism contributed 26% in Lebanon, and the income of the local economy increased by 26%,
03:27 while in Jordan it was 21% and in Egypt it was 12%.
03:33 So, in general, there is no doubt that the economic challenges and geopolitical tensions
03:38 have a great impact on the spending of consumers in the holidays.