#Consumer Discretionary Services

[alphst]

Dave & Buster's Entertainment Inc (PLAY) Q1 2023 Earnings Call Transcript

$PLAY Q1 2023 Earnings Call Transcript #earnings #markets #investing

Dave & Buster’s Entertainment Inc (NASDAQ: PLAY) Q1 2023 earnings call dated Jun. 06, 2023 Corporate Participants: Cory Hatton — Vice President, Investor Relations and Treasurer Chris Morris — Chief Executive Officer and Director Michael Quartieri — Chief Financial Officer Analysts: Andy Barish — Jefferies — Analyst Jake Bartlett — Truist Securities — Analyst Brian Vaccaro — Raymond James —…

[collapsedsquid]

The Bank of England is struggling to bring inflation back to target because price rises are increasingly driven by people who are immune to the pressures of higher interest rates, a senior policymaker has said. Catherine Mann, speaking at a Financial Times event on Wednesday, said there was “a lack of consumer discipline” to rein in businesses’ pricing power in areas of the services sector where prices were often “sticky”, as they reflect conditions in the domestic economy rather than global shocks. People on higher incomes, who still had money for discretionary purchases even with higher mortgage costs, were spending “disproportionately” on travel, eating out and entertainment, Mann said. This meant that services inflation was not falling fast enough to bring inflation back to its 2 per cent target, even though energy prices were easing and goods prices essentially flat.

Hmm if only there were some way the british state could reduce the wealth of the richest citizens, sadly no such method exists. Maybe someday though....

[beardedmrbean]

What’s an acceptable tip for a driver who delivers a $20 pizza?

A TikTok video purporting to show a DoorDash delivery driver in Texas swearing at a customer over the $5 tip she gave him has gone viral, sparking fresh online debate over tipping culture in the U.S.

“I just want to say it’s a nice house for a $5 tip,” the driver can be heard saying as he walks away from a home in the door camera video posted to TikTok earlier this week by a user under the name Lacey Purciful.

“You’re welcome!” the resident says, appearing surprised by the remark. “F--- you,” the driver responds before walking away.

“So how much should I be tipping for a $20 pie?” Purciful, who, in a separate post said she herself has worked in the service industry for over 10 years and tips “very well,” wrote in a caption.

Purciful, who did not immediately respond to an overnight request for comment from NBC News, said the driver was fired by DoorDash following the incident.

A DoorDash spokesperson confirmed that the worker had been removed from their platform. They said the company had also reached out to the customer regarding the incident.

“Respectfully asking for a tip is acceptable but abusing or harassing someone is never acceptable,” the spokesperson said.

“Our rules exist to help ensure everyone who uses our platform — Dashers, customers, merchants — have a safe and enjoyable experience,” they said. “We expect everyone to treat others with respect and we will enforce our rules fairly and consistently.”

The video added fuel to a growing debate in the U.S. over tipping culture, with some complaining current trends may have reached a tipping point.

“Tipping is out of control,” one social media user said, commenting on the video. They said they felt $5 for a $20 order was “more than” enough.”

“I doordash and most (not all) pizza delivery orders don’t tip. That was a Rockstar tip,” another user said.

Not everyone agreed, however, with some branding Purciful a “Karen” for contacting DoorDash over the incident.

One poster said they felt the driver should not have lost their job over the exchange, writing: “What he said was not right, but he didn’t have to lose job over it. Everyone is trying to make a living.”

Another commenter noted that the driver may have been concerned about mileage, writing: “Maybe $5 wasn’t enough.”

The COVID-19 pandemic brought consumer willingness to give tips, particularly during times of hardship, into fresh focus, with many ponying up to pay higher gratuities during the crisis, according to research.

Figures provided earlier this year to NBC News by payment processor Square showed the frequency of gratuities at full-service restaurants grew 17% in the fourth quarter last year from the same period in 2021. Meanwhile, tip frequency at quick-service restaurants, such as coffee shops and fast-food chains, rose 16%, according to the company’s data.

The apparent rise in tipping came despite a period of record inflation, which has eaten away at many consumers’ discretionary income.

While the pandemic appeared to spur widespread changes in tipping culture, the growing use of point-of-service, or POS systems, to process payments also appear to have made it easier than ever for customers to provide — and for businesses to ask for — tips.

In a survey of restaurant executives by industry group Hospitality Technology, 71% of respondents said using data to “understand guest preferences and behavior” was their primary reason for facilitating POS system upgrades, while for 57% enabling new payment options was the priority.

A recent Lending Tree survey found that 60% of Americans felt they were tipping more, NBC Boston reported. Around 24% said they felt pressured to tip when the option was presented, while 41% said they had changed their buying habits due to gratuity expectations and 60% felt tipping expectations had gotten out of hand. _________________

Door dash fired him, your opinion on tips aside that's not how you act to customers unless they are directly rude to you.

[perseidlion]

I started watching a lot of YouTube when many people did, in around 2016 when influencer culture was exploding and Buzzfeed was at its height.

When people like Safiya Nygaard and The Try Guys branched out (followed by the guys who would go on to create Watcher and Ghost Files/Unsolved) I started watching their content.

As we all know, things have changed a lot in recent years and both the Try Guys and the Watcher crew have seen scandal. I had no desire at all to sign up for any of their off-site channels when they were launched. I thought the post-scandal landscape was why I wasn't as engaged in their content as before.

Recently, I figured out the real reason. There's only so much content I actually want to see from any one creator or group of creators no matter how much I like them. I kind of want it to be two formats max. I don't want to see the same cast of characters in a bunch of different shows.

For example, I really enjoy Gordon Ramsay as a media personality. I liked Kitchen Nightmares back in the day. I watched the first two seasons of Hell's Kitchen. His travel show, Uncharted, is great. But none of this was ever appointment viewing. It was something I stuck on when I wanted to zone out. I have no desire to consume all the other shows he's been in. One show at a time was enough Ramsay for me. And if I stopped watching him, I didn't really miss him.

The YouTubers of Watcher and The Try Guys are very similar. Watching Ghost Files and Mystery Files (or back in the day, Unsolved Supernatural and True Crime) is enough of Ryan and Shane for me. I don't want or need to see them in anything outside of that. Same for Stephen and Andrew. They were right to retire Worth It, but one show with them in that format is plenty for me.

At the end of the day, I am interested in presenters + format. If one or the other is different, it'll take a lot of convincing for me to get on-board.

The same goes for The Try Guys. Watching Eat the Menu throughout the year and Without a Recipe at the holiday season is enough. I like their new supporting cast, but I don't really need to see more of them than I already do.

Wanting to consume multiple shows with the same cast of characters on an ongoing basis is not something that really has a precedent. That's not how a lot of people consume media, even on YouTube. Most people want the same kinds of videos with the same format from one YouTuber or a duo. If they want something different, they go to a different creator.

Therein lies the fault in this subscription model for Watcher and 2nd Try. In order for their monthly fee to be worth it, you have to want to watch multiple shows with the same cast of characters. Their prices approach the cost of an actual streaming service. You'd have to want to watch pretty much everything they put out for it to make sense financially.

Now, they probably don't actually need a huge subscriber base for this to be worthwhile. One person paying a monthly fee is probably worth a couple thousand views on YouTube revenue-wise at least. But I do wonder if it's sustainable as times get tougher and people cut back on discretionary spending.

One YouTuber who I think is doing it right is another Buzzfeed alum, Safiya Nygaard. Her and Tyler's day-to-day content seems to be YT shorts and TikToks. When she does drop a YT video it is usually longform (20-40 minutes if not longer) and very in-depth and well put-together.

Her videos only appear every couple of months and they're always a must-watch for me. I believe her and Tyler consciously chose to scale back how many videos they were producing because they were burning out. That's smart because the audience was probably getting burnt out too. I also appreciate that the videos she does put out are very high-quality, interesting and long-form.

All this to say, I do wish these creators well, especially 2nd Try who I admire for their ingenuity and the way they handled their scandal. But that doesn't mean I'll be subscribing or even watching more of their content than I already do.

There is so much content out there that it doesn't make sense to spend too much time with any one creator or set of creators.

[busstalks]

Best 10 Business Strategies for year 2024

In 2024 and beyond, businesses will have to change with the times and adjust their approach based on new and existing market realities. The following are the best 10 business approach that will help companies to prosper in coming year

1. Embrace Sustainability

The days when sustainability was discretionary are long gone. Businesses need to incorporate environmental, social and governance (ESG) values into their business practices. In the same vein, brands can improve brand identity and appeal to environmental advocates by using renewable forms of energy or minimizing their carbon footprints.

Example: a fashion brand can rethink the materials to use organic cotton and recycled for their clothing lines. They can also run a take-back scheme, allowing customers to return old clothes for recycling (not only reducing waste but creating and supporting the circular economy).

2. Leverage AI

AI is revolutionizing business operations. Using AI-fuelled solutions means that you can automate processes, bring in positive customer experiences, and get insights. AI chatbots: AI can be utilized in the form of a conversational entity to support and perform backend operations, as well.

With a bit more specificity, say for example that an AI-powered recommendation engine recommends products to customers based on their browsing history and purchase patterns (as the use case of retail). This helps to increase the sales and improve the shopping experience.

3. Prioritize Cybersecurity

Cybersecurity is of utmost important as more and more business transitions towards digital platforms. Businesses need to part with a more substantial amount of money on advanced protective measures so that they can keep sensitive data private and continue earning consumer trust. Regular security audits and training of employees can reduce these risks.

Example: A financial services firm may implement multi-factor authentication (MFA) for all online transactions, regularly control access to Internet-facing administrative interfaces and service ports as well as the encryption protocols to secure client data from cyberattacks.

4. Optimizing Remote and Hybrid Working Models

Remote / hybrid is the new normal Remote teams force companies to implement effective motivation and management strategies. Collaboration tools and a balanced virtual culture can improve productivity and employee satisfaction.

- Illustration: a Tech company using Asana / Trello etc. for pm to keep remote teams from falling out of balance. They can also organise weekly team-building activities to keep a strong team spirit.

5. Focus on Customer Experience

Retention and growth of the sales follow-through can be tied to high quality customer experiences. Harness data analytics to deepen customer insights and personalize product offers making your marketing campaigns personal: a customer support that is responsive enough can drive a great level of returning customers.

Example – For any e-commerce business, you can take user experience feedback tools to know about how your customers are getting along and make necessary changes. Custom email campaigns and loyalty programs can also be positively associated with customer satisfaction and retention.

6. Digitalization Investment

It is only the beginning of digital transformation which we all know, is key to global competitiveness. For streamlining, companies have to adopt the use advanced technologies such as Blockchain Technology and Internet of Things (IoT) in conjunction with cloud computing.

IoT example : real-time tracking and analytics to optimize supply chain management

7. Enhance Employee Skills

Develop Your Employees: Investing in employee development is key to succeeding as a business. The training is provided for the folks of various industries and so employees can increase their skills that are needed to work in a certain company. Employee performance can be enhanced by providing training programs in future technology skills and soft skills and job satisfaction.

Example: A marketing agency can host webinars or create courses to teach people the latest digital marketing trends and tools This can help to keep employees in the know which results in boosting their skills, making your campaigns successful.

8. Diversify Supply Chains

The ongoing pandemic has exposed the weaknesses of global supply chains. …diversify its supply base and promote the manufacturing of drugs in Nigeria to eliminate total dependence on a single source. In return, this approach increases resilience and reduces exposure to the risks of supply chain interruption.

- E.g., a consumer electronics company can source components from many suppliers in various regions. In so doing, this alleviates avoidable supply chain interruptions during times of political tensions or when disasters hit.

9. Make Decisions Based on Data

A business database is an asset for businesses. By implementing data, they allow you to make decisions based on the data that your analytics tools are providing. For example, sales analysis lets you track trends and better tailor your goods to the market.

Example: A retail chain can use data analytics to find out when a customer buys, and it change their purchasing policies. This can also reduce overstock and stockouts while overall, increasing efficiency.

10. Foster Innovation

Business Growth Innovation is Key A culture of creativity and experimentation should be established in companies. Funding R&D and teaming with startups can open many doors to both solve problems creatively but also tap into new markets.

Example: A software development firm could create an innovation lab where team members are freed to work on speculative projects. Moreover, work with start-ups on new technologies and solutions.

By adopting these strategies, businesses can navigate the turbulence for 2024 and roll up market — progressive.AI with an evolving dynamic market, being ahead of trends and updated is most likely will help you thrive in the business landscape.

[georgedfouni]

Hospitality executive, George Dfouni discusses the pros and cons the travel industry faces during a presidential year.

The travel industry experiences a unique set of challenges and opportunities during a presidential election year. Uncertainty often surrounds economic policies, international relations, and global stability, influencing both consumer behavior and industry dynamics.

One primary factor affecting the travel sector is the economic policy proposed by presidential candidates. Debates over taxation, government spending, and overall economic direction can create an atmosphere of financial uncertainty. This uncertainty tends to make consumers more cautious about discretionary spending, including travel expenditures.

Furthermore, George Dfouni explains, international relations play a pivotal role in the travel industry. Political rhetoric and policy proposals related to trade agreements, immigration, and diplomatic relations can impact the ease and attractiveness of international travel. Changes in these areas may result in shifts in tourism patterns, affecting destinations that rely heavily on foreign visitors.

Security concerns also come into play during election years. Political campaigns often focus on addressing perceived threats, and discussions around national security can influence travel perceptions. Increased security measures or geopolitical tensions may lead to altered travel plans, with individuals opting for destinations perceived as safer or avoiding regions with heightened risks.

Government regulations and policies related to the travel industry can be subject to change during a presidential election year. Candidates may propose alterations to visa processes, transportation regulations, or public infrastructure investments, all of which can have direct consequences for the travel sector.

The state of the economy, particularly employment rates and consumer confidence, is another critical factor. A presidential election year can be marked by intense debates on economic policies, and the outcome of the election may shape the overall economic landscape. Strong economies generally contribute to increased travel as consumers feel more financially secure and willing to spend on leisure activities.

George Dfouni states: “It's worth noting that the travel industry is adaptable. While uncertainty may initially create a cautious atmosphere, once the election results are clear, businesses often adjust to the new political landscape. Clarity on economic policies, international relations, and security measures provides a more stable foundation for both industry professionals and travelers.”

Presidential elections also offer opportunities for the travel industry. Campaign events, rallies, and conventions attract large crowds, creating a surge in demand for accommodations, transportation, and local services in host cities. This influx of visitors can boost the economies of these areas and highlight the significance of the travel sector in supporting various local businesses.

In conclusion, George Dfouni adds: “The travel industry during a presidential election year is inevitably influenced by the uncertainties and debates surrounding economic policies, international relations, security concerns, and government regulations. While challenges arise, the industry also seizes opportunities presented by campaign-related events. Adaptability is key for both businesses and travelers as they navigate the evolving landscape shaped by the outcomes of the elections.”

[digicloudm]

3M Company (MMM) Stock Forecasts

Kristina Ruggeri Analyst: Generalist Kristina began working with Argus Research in 2019. She is responsible for covering selected Consumer Discretionary and Consumer Staples Stocks and has nearly 20 years of experience in the financial services industry. Kristina began her career at Price Waterhouse where she audited asset managers, broker dealers, and banks. Later she joined J.P. Morgan as a…

[markandsparksolutions]

The Luxury Goods Market: An Evolving Landscape of Opulence and Innovation

The luxury goods market has long been synonymous with exclusivity, craftsmanship, and prestige. From high-end fashion and jewelry to premium cars and cutting-edge technology, the sector reflects the aspirations and desires of affluent consumers worldwide. Despite economic fluctuations and global challenges, the luxury goods market continues to thrive, evolving with changing consumer preferences and technological advancements.

Understanding the Luxury Goods Market

Luxury goods are products and services that are not essential but are desired for their quality, craftsmanship, and status symbol. These include categories such as:

Apparel and Accessories: High-fashion clothing, handbags, and footwear.

Watches and Jewelry: Timeless pieces from iconic brands.

Beauty and Cosmetics: Premium skincare, fragrances, and makeup products.

Luxury Automobiles: High-performance vehicles that combine engineering excellence with aesthetic appeal.

Home Decor: Designer furniture and bespoke interior solutions.

Key Trends Shaping the Market

1. The Rise of Digital Luxury

E-commerce has transformed how luxury goods are marketed and sold. Online platforms, virtual showrooms, and augmented reality experiences are making luxury more accessible to tech-savvy consumers. Brands like Gucci, Louis Vuitton, and Chanel are investing heavily in digital transformation to enhance customer engagement.

2. Sustainability and Ethical Practices

Today’s consumers, particularly Millennials and Gen Z, prioritize sustainability and ethical production. Luxury brands are responding by adopting eco-friendly materials, transparent supply chains, and initiatives to reduce their carbon footprint.

3. Personalization and Bespoke Offerings

Personalization has become a hallmark of the luxury experience. From monogrammed bags to tailor-made suits, consumers seek products that reflect their individuality. Brands are leveraging AI and customer data to offer tailored recommendations and services.

4. The Emergence of Experiential Luxury

Beyond tangible products, experiential luxury—such as exclusive travel, fine dining, and unique events—is gaining popularity. This shift highlights the growing importance of emotional connections and memorable experiences.

5. Growth in Emerging Markets

The luxury goods market is expanding rapidly in emerging economies, particularly in Asia-Pacific. China, India, and Southeast Asia are driving demand, fueled by rising disposable incomes and a growing middle class with aspirations for premium products.

Challenges in the Luxury Goods Market

1. Counterfeit Goods

The proliferation of counterfeit luxury items undermines brand value and customer trust. Advanced anti-counterfeiting technologies, such as blockchain, are being deployed to combat this issue.

2. Balancing Exclusivity and Accessibility

While expanding their reach, luxury brands must maintain their aura of exclusivity. Striking this balance is crucial to preserving brand prestige.

3. Economic Uncertainty

Luxury goods are often sensitive to economic downturns, as discretionary spending is among the first to decline during recessions.

4. Navigating Generational Differences

While older generations may value heritage and tradition, younger consumers prioritize innovation and social responsibility. Brands must cater to these diverse preferences without diluting their identity.

Future Outlook of the Luxury Goods Market

The luxury goods market is poised for continued growth, driven by innovation, sustainability, and the rising influence of digital channels. Key strategies for success include:

Investing in Technology: Augmented reality, virtual reality, and AI will enhance customer experiences and streamline operations.

Focusing on Inclusivity: Expanding product lines to cater to a broader demographic while maintaining exclusivity.

Strengthening Direct-to-Consumer Channels: Building deeper connections with customers through personalized and direct interactions.

Conclusion

The luxury goods market represents the pinnacle of aspiration and innovation. As it adapts to the demands of a dynamic global economy and evolving consumer expectations, the sector will continue to set benchmarks for quality, design, and sustainability. For brands and consumers alike, the journey of luxury is one of reinvention and timeless allure.

[alphst]

VF Corporation (VFC) Q4 2023 Earnings Call Transcript

VF Corporation (NYSE: VFC) Q4 2023 Earnings Call dated May. 23, 2023 Corporate Participants: Allegra Perry — Investor Relation Benno Dorer — Interim President & Chief Executive Officer Matt Puckett — Executive Vice President & Chief Financial Officer Analysts: Abbie Zvejnieks — Piper Sandler — Analyst Brooke Roach — Goldman Sachs — Analyst Paul Lejuez — Citi — Analyst Laurent Vasilescu —…

[newsmarketreports]

Marriott International Segment Analysis: A Deep Dive into the Global Hospitality Leader

Marriott International is one of the largest and most influential hospitality companies in the world, known for its expansive portfolio of hotel brands, from luxury to budget accommodations. Operating in over 130 countries and territories, Marriott has built an extensive global presence, catering to diverse customer needs across various market segments. This article delves into the key market segments of Marriott International strategic positioning in each of these segments.

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1. Luxury Segment: Elevating the Premium Experience

Marriott’s luxury portfolio is anchored by some of the most prestigious hotel brands in the world. These include The Ritz-Carlton, St. Regis, JW Marriott, and Bulgari Hotels & Resorts. Targeting high-net-worth individuals, corporate executives, and affluent leisure travelers, Marriott’s luxury brands offer a premium experience with top-tier service, exceptional amenities, and opulent accommodations.

Competitive Edge: Marriott’s luxury properties are known for their world-class service and attention to detail. The Ritz-Carlton and St. Regis brands, in particular, boast a long legacy of exceptional hospitality, helping the company attract a loyal, high-end clientele. Additionally, Marriott’s ability to leverage its global network provides exclusive benefits and seamless experiences for guests, further solidifying its dominance in this segment.

Challenges: The luxury segment is sensitive to economic fluctuations, and during downturns, affluent travelers tend to reduce discretionary spending. Furthermore, new luxury hotel brands and boutique offerings are emerging, adding pressure to Marriott’s established brands to innovate and stay ahead of evolving customer expectations.

2. Premium Segment: A Balance of Comfort and Value

The premium segment includes brands such as Marriott Hotels, Sheraton, Renaissance, and Le Meridien. These brands cater to both business and leisure travelers who seek higher levels of comfort and service but at a more accessible price point compared to luxury hotels. Marriott’s premium properties often combine upscale amenities, convenience, and unique design, appealing to a broad demographic of customers.

Competitive Edge: Marriott has positioned its premium brands in key metropolitan locations and tourist destinations, where demand for mid- to upper-range accommodations is high. The company’s extensive global reach allows it to tap into a wide pool of customers across diverse regions. Additionally, Marriott’s loyalty program, Marriott Bonvoy, provides added incentives, offering members exclusive perks and rewards that further enhance the customer experience.

Challenges: The premium segment is highly competitive, with numerous established brands vying for market share. Differentiating itself in such a crowded market requires continuous innovation in both service offerings and customer engagement. Additionally, Marriott must address growing consumer concerns around sustainability and environmental impact in its premium offerings.

3. Select-Service Segment: Catering to the Value-Conscious Traveler

Marriott’s select-service brands, including Courtyard by Marriott, Fairfield by Marriott, Residence Inn, and SpringHill Suites, cater to the mid-tier segment of the market, targeting both business and leisure travelers who seek quality accommodations at a more affordable price. These hotels typically offer streamlined services, emphasizing convenience, comfort, and practicality without the extensive amenities found in higher-tier properties.

Competitive Edge: The select-service segment has become increasingly important to Marriott, especially as more budget-conscious travelers seek reliable, value-driven options. Marriott’s select-service brands benefit from widespread availability in key travel markets and their ability to serve both short-term and extended-stay customers. With options for both business travelers and families, Marriott has built a broad customer base in this segment.

Challenges: This segment faces intense competition from other large hotel chains and a growing number of short-term rental services, such as Airbnb, which offer lower-cost alternatives with unique, home-like experiences. Marriott must continue to differentiate its select-service offerings through excellent customer service, innovative technologies, and loyalty rewards to retain its competitive advantage.

4. Extended-Stay Segment: Meeting the Needs of Long-Term Travelers

Marriott’s extended-stay portfolio, which includes Residence Inn, TownePlace Suites, and Element by Westin, caters to guests seeking accommodations for longer stays, such as business travelers, relocators, or tourists on extended vacations. These hotels provide spacious rooms, kitchenettes, and other amenities that support extended stays, creating a home-like atmosphere.

Competitive Edge: The extended-stay segment is growing rapidly, driven by changing travel patterns, such as the rise in remote work and longer business trips. Marriott has capitalized on this trend by offering properties equipped with the necessary amenities for long-term stays. Brands like Residence Inn are known for their spacious suites, complimentary breakfast, and social gatherings, making them attractive to extended-stay customers.

Challenges: The extended-stay market is highly competitive, with other major players like Hilton and InterContinental Hotels Group (IHG) focusing on similar offerings. Additionally, competition from Airbnb and other vacation rental platforms that provide home-like accommodations with lower price points could be a concern for Marriott in this segment.

5. Budget and Economy Segment: Serving the Cost-Conscious Traveler

Marriott’s budget and economy segment is represented by brands such as Moxy Hotels and Aloft Hotels, which target younger travelers, millennials, and those seeking affordable yet stylish and modern accommodations. These brands focus on providing essential amenities with a contemporary design and energetic atmosphere, often in city centers or close to transportation hubs.

Competitive Edge: Moxy and Aloft stand out with their vibrant, modern designs and emphasis on social spaces. These brands cater to travelers who prioritize cost-effective options but do not want to compromise on style or comfort. Their focus on appealing to the millennial demographic, which values affordability and experiences, has allowed Marriott to gain traction in this growing market.

Challenges: As the economy fluctuates, the budget segment can experience downward pressure on pricing. While these brands are designed to be affordable, Marriott must continue to find ways to balance cost-efficiency with guest satisfaction to maintain competitiveness. Additionally, they face competition from both traditional economy hotels and budget-friendly alternatives like Airbnb.

6. Vacation Ownership and Timeshare Segment: Creating Lasting Customer Relationships

Marriott Vacations Worldwide, a subsidiary of Marriott International, offers vacation ownership products, including timeshare units, in popular vacation destinations around the world. These properties cater to guests looking for long-term vacation investments and consistent vacation experiences across different locations.

Competitive Edge: Marriott’s timeshare offerings, particularly its vacation ownership products, allow the company to create lasting relationships with loyal customers who return to the brand year after year. The flexibility of Marriott’s vacation ownership program and the ability to trade properties across a global network adds significant value for customers.

Challenges: The timeshare business can be challenging, as it requires extensive customer acquisition efforts, and market fluctuations in the travel and leisure industry can impact sales. Additionally, competition in the timeshare space is fierce, with other large hotel chains and specialized vacation ownership companies targeting similar customer segments.

Conclusion: Marriott’s Strategic Positioning Across Segments

Marriott International has successfully segmented its operations across a diverse range of brands to cater to various customer needs in the global hospitality market. From luxury travelers seeking exclusive experiences to budget-conscious guests looking for affordable yet stylish accommodations, Marriott’s expansive portfolio enables it to capture a wide audience across all market segments.

While each segment presents unique opportunities and challenges, Marriott’s ability to innovate and adapt to shifting customer preferences, along with its robust loyalty program, positions it as a global leader in the hospitality industry. Going forward, Marriott will need to continue focusing on sustainability, technological advancements, and guest-centric innovations to maintain its competitive edge in an increasingly dynamic marketplace.

[third-new]

(EXPE) Stock Outlook

John D. Staszak, CFA Securities Analyst: Consumer Discretionary and Consumer Staples John's expertise at Argus includes the gaming, lodging and restaurant groups within the Consumer Discretionary sector. John earned an MBA from the University of Texas and a BA in Economics from the University of Pennsylvania. In the financial services industry, he has worked as an analyst and consultant for…

[newtras]

(EXPE) Stock Outlook

John D. Staszak, CFA Securities Analyst: Consumer Discretionary and Consumer Staples John's expertise at Argus includes the gaming, lodging and restaurant groups within the Consumer Discretionary sector. John earned an MBA from the University of Texas and a BA in Economics from the University of Pennsylvania. In the financial services industry, he has worked as an analyst and consultant for…

[satrthere]

(EXPE) Stock Outlook

John D. Staszak, CFA Securities Analyst: Consumer Discretionary and Consumer Staples John's expertise at Argus includes the gaming, lodging and restaurant groups within the Consumer Discretionary sector. John earned an MBA from the University of Texas and a BA in Economics from the University of Pennsylvania. In the financial services industry, he has worked as an analyst and consultant for…

[digicloudm]

Brown & Brown, Inc. (BRO) Stock Forecasts

John D. Staszak, CFA Securities Analyst: Consumer Discretionary & Consumer Staples John’s specialty at Argus includes the gaming, lodging and restaurant groups within the Consumer Discretionary sector. John earned an MBA from the University of Texas and a BA in Economics from the University of Pennsylvania. In the financial services industry, he has worked as an analyst and consultant for firms…

[top4allo]

The latest financial report on the income of United Airlines Holdings, Inc. (UAL).

John D. Staszak, CFA Securities Analyst: Consumer Discretionary & Consumer Staples John’s specialty at Argus includes the gaming, accommodation and restaurant groups in the Consumer Discretionary sector. John earned an MBA from the University of Texas and a BA in Economics from the University of Pennsylvania. In the financial services industry, he worked as an analyst and consultant for firms…

[global-research-report]

Handbag Market size is estimated to reach USD 124.10 billion by 2030

The global handbag market size is estimated to reach USD 124.10 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 6.8% from 2023 to 2030. The market is primarily driven by a combination of factors that cater to both functional and fashion-conscious consumers. First and foremost, fashion trends and brand influence play a significant role. Consumers are constantly seeking the latest styles and designs, often influenced by celebrities and social media influencers who showcase popular handbag brands. In addition, the desire for quality and craftsmanship continues to fuel the market, with consumers willing to invest in premium and luxury handbags known for their durability and timeless appeal.

There has been a remarkable surge in the global workforce's female representation. Women have become indispensable in a wide array of industries, assuming various roles that span from corporate leadership positions to entrepreneurial ventures. This heightened involvement of women in the workforce has sparked a growing demand for accessories tailored to meet the specific needs of working women. Handbags, once considered mere accessories, have undergone a significant transformation, evolving into indispensable tools designed to cater to the multifaceted requirements of today's modern professional life.

Functionality also plays a crucial role, as handbags serve as essential accessories for daily life. With busy lifestyles, consumers seek bags that offer convenience and versatility. This has led to a growing demand for various types of handbags, including tote bags, clutches, and satchels, each tailored to specific needs. E-commerce has also revolutionized the handbag industry, making it more accessible to a global audience. Online shopping offers a wide range of choices, competitive prices, and the convenience of doorstep delivery, further boosting the market's growth.

In response to evolving lifestyles and consumer preferences, there is an escalating demand for lightweight handbags that seamlessly merge functionality with style. Modern consumers seek bags that are easily portable, versatile, and suitable for a variety of occasions. As an increasing number of individuals lead active and mobile lives, lightweight handbags are tailored to meet their needs. Whether it is a crossbody bag for daily commuting or a compact duffel bag for outdoor pursuits, the trend toward lighter options resonates with consumer preferences for convenience.

Handbag Market Report Highlights

Based on raw material, the leather handbag segment held the largest market share of 56.27% in 2022. Growing consumer preference for luxury goods and accessories is a major factor driving the demand for leather handbags. Leather is the primary raw material for luxury handbags and accessories. Rising consumer spending on luxury items in developed and developing economies can be attributed to the rise in working women, who are increasingly willing to invest in leather handbags to create a versatile wardrobe collection

Based on product, the satchel bag segment is projected to grow at the fastest CAGR of 8.1% over the forecast period. Satchel bags are a versatile type of handbag that can be used for a variety of occasions, from work to school to casual outings. This makes them a popular choice for many consumers

In terms of distribution channel, the online distribution channel segment is projected to grow at the fastest CAGR of 8.6% over the forecast period owing to the rising popularity of e-commerce and social media channels. Younger consumers increasingly prefer online shopping owing to the digitalization of services

Based on region, the North America region is expected to grow at a CAGR of 5.4% from 2023 to 2030. The growing influence of the fashion industry over a wider population and increased discretionary spending are expected to fuel the demand for handbags in the region

Handbag Market Segmentation

Grand View Research has segmented the global handbag market based on raw material, product, distribution channel, and region:

Handbag Raw Material Outlook (Revenue, USD Million, 2017 - 2030)

Leather

Fabric

Others

Handbag Product Outlook (Revenue, USD Million, 2017 - 2030)

Tote Bag

Clutch

Satchel

Others

Handbag Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

Online

Offline

Handbag Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America

US

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

Asia Pacific

China

India

Japan

Australia

South Korea

Central and South America

Brazil

Middle East and Africa

South Africa

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