Expect to see a disproportionate amount of pricing on toys this holiday season: UBS' Michael Lasser

Consumer Spending & Economic Outlook - Deloitte's survey indicates 57% of consumers anticipate a weaker economy in the coming year [1] - 77% of consumers expect higher prices on holiday items [1] - Consumers plan to spend 10% less during the holidays compared to the previous year [1] - Consumer spending is heavily influenced by the top 10% of households by income [8] - Lower-income consumers are feeling pressured due to the cumulative impact of inflation [8] Retail Performance & Strategies - Mass merchants, particularly Walmart, Costco, and Amazon, have driven 50% of all retail sales growth in the United States over the last two years [10] - Technology, including ease of online ordering and fast delivery, is contributing to the disproportionate market share gain of certain retailers [11] - Retailers are adopting generative commerce, with Walmart being an early adopter, to avoid missing out on emerging models [13][14] - Walmart's stock experienced approximately a $4 billion increase in market capitalization following its generative commerce announcement [14] - Walmart is advancing its business model through advertising, its third-party marketplace, and data monetization [15]