Deceptive Q4 Retail Statistics & Other Statistics « Ecommerce News, Conferences, Platform Reviews & Free Bid Claims
Sometimes numbers and statistics can be misleading. Even after trying to figure out the underlying logic, people fail. Things are getting confusing as the 4Q retail economic outlook approaches.
The former CEO of Saks Fifth Avenue and senior advisor to Mastercard has a comment on this. He predicts that consumers are in good shape when they shop and buy things. This is quite surprising given the economic statistics.
We all know that economic conditions are deteriorating. People face the burden of rising fuel prices, rising rents and other daily responsibilities. In such a depressing economic situation, this CEO comment is going around. And the 4th quarter retail sales reports are even more wrong.
Higher interest rates worry people all over the world. The news says that the savings rate has dropped significantly. Inflation is rising and affecting the lives of middle-income families. Despite the sad situation, statistics do not show results.
The statistics do not correspond to the reality of today’s situation. Another aspect of a good quantity calculation is comparison. Data scientists usually first compare the data and then analyze it. Not only does it provide better understanding, but it is also easy.
Even experts point out that the September 13 report from the US Bureau of Labor Statistics is misleading. The report mentions a decrease in the rate of inflation. At the same time, inflation has decreased from 9.1% to 8.3% for two months in a row.
Now this is a very superficial statistic. Sadovy talks about the complexity of forecasting retail trade for the 4th quarter and economic charts for 2023.
Times are very difficult for the whole world. The economy is at rock bottom. Global supply chains are inconsistent. All sectors of the economy were affected. Statistics show that department store sales have grown by 13%. However, this information is under the shield.
The market is currently trying to recover from the losses after the pandemic. However, people cut back on all additional utilities. People cannot compromise on products. So it sees a ray of brilliance, even if the graph is low compared to the statistics of the last two years.
https://www.ecommercenext.org/misleading-q4-retail-and-other-statistics/ Deceptive Q4 Retail Statistics & Other Statistics « Ecommerce News, Conferences, Platform Reviews & Free Bid Claims