Rethinking the problem of slumping consumer demand using 2024 evidence

Quatical’s Marc Binkley reexamines his approach to solving softening customer demand in 2017, and how he would approach it in 2024.


Seven years ago, my retail colleagues and I faced a problem similar to the one BestBuy experienced in 2023. Sales suddenly dropped off a cliff and remained depressed for months. In Q3 of 2023, BestBuy had benefited from the clear vision of hindsight. Nearly two years after the problem started, the company reported that the problem was a result of softening consumer demand for electronics and household appliances during the pandemic that began in Q3 of 2021.

Unlike the BestBuy example above, my retail colleagues and I were sweating to find a root cause of our...

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