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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: This is Bloomberg business Weekdaily reporting from the magazine that

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Speaker 2: helps global leaders stay ahead with insight on the people, companies,

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Speaker 2: and trends shaping today's complex economy. Plus global business finance

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Speaker 2: and tech news as it happens. The Bloomberg Business Weekdaily

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Speaker 2: Podcast with Carol Masser and Tim Steneveek on Bloomberg Radio.

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Speaker 3: More retailers turning to the new technology AI that is

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Speaker 3: this holiday shopping season, but balancing the efficiency that technology

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Speaker 3: can bring with the trust customers place and human interactions

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Speaker 3: can be tricky. Dan O'Connell is the CEO of Front

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Speaker 3: and AI customer service platform Dan, welcome and thanks for

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Speaker 3: joining us today. So how does Front differentiate itself from

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Speaker 3: other purportedly AI dominated customer service platforms.

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Speaker 4: Yeah, great question and thanks for having me today. It's

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Speaker 4: a friend's really the only plot form that combines traditional email,

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Speaker 4: help desk and chatbots together in a single platform to

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Speaker 4: deliver exceptional AI drone customer experiences for incredible depth and

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Speaker 4: breadth of customers.

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Speaker 3: Okay, sounds interesting. So who are your customers and what

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Speaker 3: do they pay you for the service?

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Speaker 4: Yeah, so our customers today are really focused on two things. One,

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Speaker 4: they want to automate low value, repetitive tasks to deliver

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Speaker 4: exceptional customer experiences. And they've got high value relationships that

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Speaker 4: they want to have a human touch for. And so

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Speaker 4: our customers are b to B customers specifically at mid

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Speaker 4: market and lower enterprise that leverage us again as a

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Speaker 4: way to go and communicate and manage their relationships with

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Speaker 4: our customers.

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Speaker 5: All right, I'm going to just cut to the chase

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Speaker 5: cuz CEOs they understand and the terminology, But what is

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Speaker 5: it that you really are getting to for one of

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Speaker 5: your clients in terms of the customer information and what

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Speaker 5: you're doing for them.

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Speaker 4: Sure, every business out there needs to manage customer relationships,

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Speaker 4: and so again that can be how do we go

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Speaker 4: and respond to customers over chat, or over SMS or

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Speaker 4: over email. They need to understand the insights that are

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Speaker 4: coming from those conversations so they can better route them,

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Speaker 4: and again really focus on just these wonderful customer customer

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Speaker 4: experiences across really any channel that's out there, voice, video, SMS, text,

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Speaker 4: and email.

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Speaker 5: Dan, I have to say, I think it's either the

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Speaker 5: control rooms around here or everybody around us are like,

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Speaker 5: come on, we've all had a customer experience where we're

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Speaker 5: either don't get the answers or get into kind of

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Speaker 5: a chatbot that doesn't ask the right questions and says, hey, are.

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Speaker 6: You all done now? So how do we make it better?

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Speaker 5: So that really is this about, you know, customers companies

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Speaker 5: gathering information or is it really about making the customer

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Speaker 5: experience easier and more productive?

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Speaker 4: Well, I think it's a balance. Like we're at the

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Speaker 4: earlier segment. You know, we're all incredibly excited about the

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Speaker 4: opportunity for AI to deliver faster responses and instinct answers.

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Speaker 4: We know that every consumer out there wants to get

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Speaker 4: an instant answer any question or problem they have around

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Speaker 4: in order, and I think there's all so a balance

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Speaker 4: of Look like we're in this holiday season, it's really emotional.

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Speaker 4: If there's a shipping delay or an issue, you want

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Speaker 4: to be able to go and talk to a person.

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Speaker 4: And so I think the balance of finding this opportunity

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Speaker 4: is incredibly important for every brand that's out there. You

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Speaker 4: can't just automate away the people. You can't just automate

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Speaker 4: away every task or workflow, and so I think the

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Speaker 4: best businesses are going to strike that balance, and I

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Speaker 4: think we're in this real time experiment right now in

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Speaker 4: this holiday season given kind of the excitement around AI.

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Speaker 3: So what do you use for large language models? Whose

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Speaker 3: AI do you use? And you know where is all

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Speaker 3: that data stored?

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Speaker 4: Yeah, So in terms of we've got a multipletive partners

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Speaker 4: that we leverage to provide our AI. We do some

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Speaker 4: work in house. We obviously leverage open AI and Mistroll,

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Speaker 4: who are large foundational large language models. I'm sure most

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Speaker 4: of the audience is familiar with some of them. And

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Speaker 4: one thing that's really important is we talk about this

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Speaker 4: data is making sure that our customers have full control

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Speaker 4: to that data. Again, and then when we talk about

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Speaker 4: the customer experiences, nobody wants to be tricked out there

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Speaker 4: in terms of when they're engaging with AI, and so

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Speaker 4: I think this is also a fundamentally important focus for

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Speaker 4: us at FRONT, which is make sure that the users

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Speaker 4: have full control. Make sure that we're very clear around

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Speaker 4: where there are experiences with an AI or an automated

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Speaker 4: or automation and when you're actually engaging with a human.

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Speaker 6: So software as a service.

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Speaker 3: Your AI chatbot just brought me over to your pricing page,

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Speaker 3: which thank you very much and is asking me if

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Speaker 3: I have any questions, and you can get a starter

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Speaker 3: pack for twenty five bucks and it goes on up

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Speaker 3: to one hundred and five. But I imagine as small

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Speaker 3: and medium sized enterprises mainly that you're targeting, right, because

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Speaker 3: the bigger companies are doing it themselves.

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Speaker 4: No, you would be surprised. And so I think every

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Speaker 4: business on the planet is going through a platform shift

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Speaker 4: right now around customer experience. And so we are working

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Speaker 4: with some small businesses that might have five or fifteen seats,

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Speaker 4: and our largest sense to or upwards of thousand seats.

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Speaker 4: Some of the largest brands that are recognized. Uber Freight,

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Speaker 4: for example, is a business of ours leverages us and

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Speaker 4: so again, like I think what's interesting at this moment

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Speaker 4: in time is everybody you're picking new platforms around customer experience.

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Speaker 4: And again that's because of what AI is cap already demonstrating,

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Speaker 4: and capability has real capabilities and real revenue traction. But

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Speaker 4: I think also people are excited about what are the

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Speaker 4: opportunities that AI can deliver in the near future.

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Speaker 5: Hey, Dan, just got about thirty seconds here. You have

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Speaker 5: so much data on your platform. We all care about

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Speaker 5: what the US consumer is doing. In thirty second, how

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Speaker 5: would you say the US consumer is doing and fairing?

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Speaker 4: Yeah, I think what we see is I am expecting

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Speaker 4: us to have one of the biggest cyber mondays in

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Speaker 4: holiday seasons that we've seen. We already know that people

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Speaker 4: are shifting and making more purchases online and through mobile. Again,

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Speaker 4: that increase in volume obviously leads to there's going to

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Speaker 4: be some increasing frustrations and breakdown, and they're going to

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Speaker 4: want to have these ecceits optional customer experiences across any channel.

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Speaker 4: And so again I'm expecting to sta have a pretty

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Speaker 4: big holiday season here, all right.

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Speaker 5: So it sounds like you're gonna be pretty busy going ahead.

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Speaker 5: Hey Dan, thank you so much. Dan O'Connell. He is

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Speaker 5: the CEO of up Front.

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Speaker 1: Stay with us. More from Bloomberg Business Week Daily coming

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Speaker 1: up after this.

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Speaker 2: You're listening to the Bloomberg Business Weekdaily podcast. Catch us

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Speaker 2: live weekday afternoons from two to five pm Eastern Listen

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Speaker 2: on Apple CarPlay and Android Auto with the Bloomberg Business app,

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Speaker 2: or watch US live on YouTube.

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Speaker 5: With consumer sentiment overall this month following the most since

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Speaker 5: the month of April. There are questions about how holiday

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Speaker 5: shopping and retailers full year earnings will be impacted. So

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Speaker 5: there's a lot going on this holiday season and expectations

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Speaker 5: to around it. We're joined now by Natalie Cutler. She's

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Speaker 5: Video's national retail and consumer products industry leader, and she

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Speaker 5: joins us on this Black Friday.

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Speaker 6: Hey Natalie, great to have you here with Vonnie and myself.

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Speaker 5: What are your expectations around this holiday shopping season?

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Speaker 7: Well, great to be here, thank you. You know what,

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Speaker 7: I think this holiday season is going to be challenging,

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Speaker 7: yet I do think it's going to ultimately be okay.

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Speaker 7: I think there's going to be winners and losers on

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Speaker 7: the retail side, just like we would expect to see

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Speaker 7: in any year. Those retailers that really understand what their

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Speaker 7: consumer is looking for, whether it's value, convenience, or experience,

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Speaker 7: those are the retailers that are going to be successful.

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Speaker 8: Natalie.

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Speaker 5: One thing that I caught my attention this week's City

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Speaker 5: coming out and saying that Black Friday performance is overblown

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Speaker 5: as a metric for retailers, going on to say the

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Speaker 5: Thanksgiving weekend shopping event is given too much attention as

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Speaker 5: the season is quote typically one or lost in the

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Speaker 5: weeks leading up to Christmas, with the post Christmas week

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Speaker 5: becoming more important to most retailers that city's view.

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Speaker 6: Does city have a point though?

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Speaker 7: So, I do think that the week'sly up to Black

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Speaker 7: Fridays certainly are an indication of what will happen on

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Speaker 7: Black Friday, the entire weekend, and then certainly for the

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Speaker 7: rest of the Monday December. Black Friday used to be

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Speaker 7: the turning point and the key day from most retailers,

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Speaker 7: and we know now that it is so much more

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Speaker 7: than that. It is now beginning November and even Amazon

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Speaker 7: as early as October, so the holiday season has really

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Speaker 7: stretched out more so than it has been in years past.

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Speaker 7: So it's kind of difficult just to nail down a

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Speaker 7: particular day. Having said all that, I do think at

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Speaker 7: Black Friday or this entire weekend and including Cyber Monday,

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Speaker 7: are still critical days for retailers because that is the

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Speaker 7: day that the consumer's mindset is, oh, I have to

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Speaker 7: go out there and get my shopping done.

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Speaker 3: Not are there any new approaches when it comes to marketing.

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Speaker 3: I picked up my phone a little while ago, and

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Speaker 3: there are must have been about fifty emails offering me things. Obviously,

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Speaker 3: these are people I've given my email to already and

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Speaker 3: they think of me as a loyal customer.

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Speaker 6: But for many of them, I'm not.

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Speaker 7: So let's dig deeper a little bit on that whole

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Speaker 7: concept of loyalty. So loyalty programs are super important, and

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Speaker 7: retailers are doubling down on the loyalty programs. So in

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Speaker 7: the past, probably as you did in so many others,

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Speaker 7: as did I, you wanted a five percent ten percent

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Speaker 7: sign on discount. Lots of consumers signed in, got their

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Speaker 7: initial ten percent, and that was the end of that,

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Speaker 7: and then we're all continuously getting these emails. But good

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Speaker 7: retailers are doubling down on the retail on the loyalty programs,

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Speaker 7: and they're offering either tier discounts by X get a

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Speaker 7: discount of ten percent, by why get a discount of

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Speaker 7: twenty percent. Some loyalty programs are offering exclusive promotions, they're

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Speaker 7: offering those promotions early, and then they're also offering exclusive

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Speaker 7: drops or exclusive products. So I do think that the

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Speaker 7: old loyalty program that we've seen for many years, where

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Speaker 7: you just get that initial discount, are no longer are

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Speaker 7: no longer the case, and retailers are not only providing

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Speaker 7: those discounts, but they're really doing is actually getting information,

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Speaker 7: and they're gathering data about us as consumers, what we're buying,

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Speaker 7: when we're buying it, and utilizing AI as to how

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Speaker 7: they can offer us better and more targeted and personalized promotions.

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Speaker 3: And I imagine they were turning some shoppers away with

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Speaker 3: the volume of these emails. I want to ask you

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Speaker 3: about omni channel because it used to either that was

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Speaker 3: sort of in person or online somehow, but that's expanded

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Speaker 3: as well now given that we can all shop through

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Speaker 3: our social media ups.

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Speaker 6: Should we want to, absolutely so.

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Speaker 7: It used to be just as you said, used to

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Speaker 7: be either in store, used to have online. Now we

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Speaker 7: have mobile commerce, and we have social commerce, and retailers

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Speaker 7: really need to have a very strong omnichannel to capture

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Speaker 7: all of those different channels so a not to lose

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Speaker 7: the consumer. You know, if you have a promotion in

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Speaker 7: the store, but you don't have the promotion available online

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Speaker 7: or vice versa, or in social commerce. And I think

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Speaker 7: social commerce actually opens up a whole nother area of

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Speaker 7: opportunity for retailers, and that's the through influencers. You know,

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Speaker 7: buying through influencers is someone that you can relate to,

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Speaker 7: someone in with your interest, perhaps in your age bracket,

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Speaker 7: someone you can really connect to. I think influencers are

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Speaker 7: certainly driving the sales and the interaction on social commerce.

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Speaker 5: Hey, Natalie, just to wrap up, because you know we've

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Speaker 5: talked a lot about the consumer, but you obviously work

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Speaker 5: with a lot of companies and businesses that sell stuff

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Speaker 5: to the consumer. Just got about thirty seconds left here

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Speaker 5: or so what are they saying about the environment right now?

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Speaker 5: Are they optimistic? Are they more conservative about the outlook?

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Speaker 5: Just quickly if you could.

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Speaker 7: I think you're really seeing a mix of all of that.

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Speaker 7: Some retailers are optimistic, the ones that have a very

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Speaker 7: strong front end back end in terms of how they

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Speaker 7: view how they view the consumer. Whereas some retailers that

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Speaker 7: are not as comfortable or do not have all their

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Speaker 7: processes in place. They didn't buy the inventory at the

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Speaker 7: right time or at the right price and now are

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Speaker 7: Therefore we'll be offering significant discounts in Q four and beyond.

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Speaker 6: All right, Natalie, thank you so much for joining us.

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Speaker 3: That is Natalie Cutler from Videos Retail and Consumer Products

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Speaker 3: Industry Group.

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Speaker 1: Stay with us more from Bloomberg Business Weekdaily coming up

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Speaker 1: after this.

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Speaker 2: If you're listening to the Bloomberg Business Weekdaily podcast, catch

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Speaker 2: US Live weekday afternoons from two to five pm Eastern.

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Speaker 2: Listen on Apple CarPlay and Android Auto with the Bloomberg

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Speaker 2: Business app, or watch US Live on YouTube.

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Speaker 5: Keeping up with that holiday theme, holiday travel, you know,

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Speaker 5: is often stressful in other place, maybe gummies and cannabis

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Speaker 5: they come in handy. Some might say, Hey, this year

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Speaker 5: travel maybe a little bit different, though, as many Americans

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Speaker 5: made changes to their plans during or because of the

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Speaker 5: US government shutdown. Even so, it is expected to be

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Speaker 5: one of the busiest travel seasons in years. Let's get

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Speaker 5: more on what to expect with Clint Henderson. He's travel

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Speaker 5: insider managing editor of the travel media platform.

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Speaker 6: The Points Guy.

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Speaker 5: Always knows so much about what's going on and where

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Speaker 5: the deals are.

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Speaker 6: First of all, Clint, just look back.

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Speaker 5: How much do you think or how much are you

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Speaker 5: hearing that the government shutdown may have impacted holiday travel

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Speaker 5: this year?

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Speaker 8: Yeah? So we did a poll with you Gov at

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Speaker 8: the Point Sky and we found that forty percent of

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Speaker 8: those planning to travel for Thanksgiving, a Christmas were reconsidering

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Speaker 8: their plans, changing their plans, or canceling their plans. So

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Speaker 8: in the end, because the government shutdown ended when it did,

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Speaker 8: I don't think anywhere near that number ended up canceling.

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Speaker 8: I do think some people chose to drive instead, and

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Speaker 8: maybe some people were scared off of traveling for the

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Speaker 8: Thanksgiving holiday. That said, there's still record crowds, so it

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Speaker 8: didn't really dent the numbers as much as it could have.

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Speaker 8: But I definitely think the air traffic controller shortage thing

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Speaker 8: got a lot of publicity. That's an ongoing problem that

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Speaker 8: I think a lot of people hadn't heard about before.

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Speaker 8: So you know, we did see an impact to pricing

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Speaker 8: for Christmas flights. So we did an analysis with points

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Speaker 8: Path and we found prices dropped around six percent year

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Speaker 8: over year for Christmas, which is really unusual this time

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Speaker 8: of year. Usually it's only up, up, up for Christmas.

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Speaker 3: So I've noticed some great deals to some European destinations

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Speaker 3: that I definitely definitely didn't notice when I was speaking

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Speaker 3: with you last year, because I remember, well, give us

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Speaker 3: the skinny, we're the best destinations, were the best discounts

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Speaker 3: when it comes to Black Friday shopping.

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Speaker 8: Yeah, so pretty much every single airline has a Black

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Speaker 8: Friday sale on right now or is planning one for

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Speaker 8: travel Tuesday Cyber Monday next week. It's a great time

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Speaker 8: to shop for travel, especially if you have some spring

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Speaker 8: break trips that you're going to plan, because that can

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Speaker 8: be really expensive. But roundtrip under five hundred dollars is

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Speaker 8: common this week from everyone from Singapore Airlines, air Lingis.

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Speaker 8: American Airlines launched a huge sale today, so lots of

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Speaker 8: good deals to Europe for example. Out there. Also, American

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Speaker 8: Airlines has flights under one hundred dollars one way all

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Speaker 8: over the country, including trans cons between San Francisco or

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Speaker 8: LA and New York. So really good deals out there.

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Speaker 8: Alaska Airlines thirty percent off, and then all the hotels

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Speaker 8: are twenty five to thirty percent off today, so take

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Speaker 8: a look around. We have a whole ride up at

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Speaker 8: the Point Sky that I've been updating frequently, and so

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Speaker 8: there's lots of good deals out there, so much so

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Speaker 8: that I think travel has replaced sort of merchandise as

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Speaker 8: the best deal during these Black Friday holidays. It's pretty

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Speaker 8: remarkable because when I started out in this business, it

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Speaker 8: was really a gimmick. Travel Tuesday was not really a thing,

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Speaker 8: and now it really is.

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Speaker 3: I agree, I definitely have had good luck on this

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Speaker 3: particular weekend actually booking travel. Talk to us about some

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Speaker 3: of the domestic and international places that people are booking most.

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Speaker 8: Yeah, Europe is good, it remains hot, and it's always

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Speaker 8: the case. Florida, Las Vegas is still hot. New York

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Speaker 8: City crazy demand in New York City. If you've been

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Speaker 8: out in the city, you know what it's like out there.

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Speaker 8: I just can't believe hotel rates eight hundred to one

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Speaker 8: thousand dollars a night. It's just crazy to me. But

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Speaker 8: Europe is hot, and then of course Japan. The US

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Speaker 8: dollar remains strong, so places like Japan are a relative

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Speaker 8: bargain for Americans and that's really well where everyone wants

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Speaker 8: to go. I don't know if it's Instagram that seems

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Speaker 8: to be the hot spot.

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Speaker 6: Really fascinating.

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Speaker 5: One of the things I want to go back to, though, Clint,

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Speaker 5: is in terms of deals, you talked about thirty percent

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Speaker 5: off or this percentage off.

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Speaker 6: What about for people who use miles.

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Speaker 8: Yeah, I'm not seeing as many mileage deals though they

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Speaker 8: are out there. I think you just have to be

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Speaker 8: really flexible and you have to be nimble with booking

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Speaker 8: mileage deals right now. You know, last year that's what

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Speaker 8: we were seeing more was mileage deals. This year it

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Speaker 8: seems to be cash deals. So very interesting trend to watch.

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Speaker 8: I use tools like seats Dot arrow to find cheap

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Speaker 8: business class flights and you know, there's explanation of all

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Speaker 8: this stuff at the points guy. But you have to

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Speaker 8: be a little You have to be a little tricky

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Speaker 8: these days to get a really pine.

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Speaker 3: That is so true.

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Speaker 1: Hey, listen.

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Speaker 5: The other thing I want to ask you about is

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Speaker 5: cruise lines because I've seen a lot of commercials for

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Speaker 5: the cruise companies and they do seem to be saying

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Speaker 5: sign up now and a big percentage off. How much

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Speaker 5: of that is kind of amping up to bring in consumers.

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Speaker 8: Yeah, it's really interesting. The cruise industry was the last

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Speaker 8: to recover coming out of COVID, and we saw some

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Speaker 8: extraordinary deals. I just have not seen a lot of

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Speaker 8: deals in the cruise space these days. So if you

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Speaker 8: see something and now that looks really good, jump on it.

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Speaker 8: Because cruises are selling out. It's remarkable to come back

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Speaker 8: in the cruise industry. I haven't not seen a ton

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Speaker 8: of deals. I'm sure there's a few out there, but yeah,

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Speaker 8: if you see something on sale, grab it.

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Speaker 3: Klint just remind us, he said, seats dot arrow and

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Speaker 3: are there other websites that we should know about because

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Speaker 3: I feel like these websites change all the time.

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Speaker 8: Yeah they do. We've got a guide to all the

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Speaker 8: best travel tools at the Points Guide, but seats dot

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Speaker 8: arrow is good, Points Bath points dot point dot me

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Speaker 8: is another good one. Uh, There's there's all kinds of

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Speaker 8: really fun tools out there where you can you can

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Speaker 8: beat the airlines at their own game.

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Speaker 3: Yeah, or at least, you know, spend spend an hour

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Speaker 3: or two and have fun dreaming. Clint Henderson, thank you

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Speaker 3: so much. Always wonderful to speak with you and actually

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Speaker 3: can be very profitable to speak with you as well.

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Speaker 3: So thanks again. That's Clint Henderson, who is managing editor

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Speaker 3: at The Points Guy, and do check out the Points

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Speaker 3: Guy website as well.

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Speaker 6: For all of those deals.

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Speaker 1: Stay with us more from Bloomberg Businessweekdaily coming up after this.

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Speaker 2: You are listening to the Bloomberg Business Weekdaily podcast. Catch

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Speaker 2: us live weekday afternoons from two to five pm Eastern

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Speaker 2: Listen on Applecarplay and Android Auto with the Bloomberg Business app,

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Speaker 2: or watch us live on YouTube.

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Speaker 3: You know, look at the market today, Carol, we have

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Speaker 3: to point out that in this last trading day of November,

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Speaker 3: we've actually turned positive on the month with the S

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Speaker 3: ANDB five hundred. We're finishing the session of more than

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Speaker 3: half a percent and we only needed to make up

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Speaker 3: point four percent. So my math tells me that we

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Speaker 3: are in the green, having dropped four point seven percent

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Speaker 3: earlier on this month, really really rocky month than I was.

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Speaker 8: Like.

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Speaker 3: One hundred is up eight tenths of one percent to

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Speaker 3: continue this nice Thanksgiving rally.

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Speaker 6: The Dow up six tenths of percent.

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Speaker 3: Not much movement for the dollar, equity in disease, as

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Speaker 3: I say, higher equity markets closed. The bond market has

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Speaker 3: another hour to go, but not seeing too much movement

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Speaker 3: there either. The ten year yield just above for one

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Speaker 3: right now, the two year yield just below four fifty

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Speaker 3: and a little bit of addition to oil, so we're

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Speaker 3: about fifty nine to forty seven for WTI Brent crude.

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Speaker 3: Really no change at sixty three thirty seven, but plenty

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Speaker 3: of interesting moves today in the SMB five hundred, Carol

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Speaker 3: Energy was the best sector.

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Speaker 5: Yeah, really fascinating to see that at performance today. If

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Speaker 5: you're thinking about what performed best in the month of November,

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Speaker 5: folks healthcare at the top of the back, it is

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Speaker 5: up about eight and a quarter percent. All right, let's

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Speaker 5: get more on the market trade for you. Let's bring

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Speaker 5: in someone who want which is it day in and

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Speaker 5: day out for us here at Bloomberg. She's the Blueberg

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Speaker 5: Markets correspondent, Norm Melnda. She joins us right here, Noura,

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Speaker 5: where shall we begin here? What kind of caught your attention?

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Speaker 5: First of all, for today in what was certainly a

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Speaker 5: light volume day.

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Speaker 9: Certainly light volume. But what I've been hearing from a

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Speaker 9: lot of analysts is the fact that actually in holiday

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Speaker 9: shortened weeks, we do tend to see a lot of outperformance.

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Speaker 9: That we're just looking at how the week ended. The

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Speaker 9: S and P five hundred saw its best week since May.

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Speaker 9: And of course, as we're looking at a lot of

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Speaker 9: the monthly scopes here, but I was hearing an expectation

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Speaker 9: for us to see a bid in the energy sector,

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Speaker 9: especially if we're continuing to see a lot of focus

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Speaker 9: on the geopolitical tensions in Ukraine Russia that development there.

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Speaker 9: So I was talking to some sources over at Integrity

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Speaker 9: Asset Management who did expect that to see some some

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Speaker 9: boosts today. So it's interesting that that was the best

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Speaker 9: performing sector on the day today, Carol.

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Speaker 3: And then of course for the retailer is Nora. We

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Speaker 3: had a double Jamie of a week because we had

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Speaker 3: a lot of earnings out, some of them were very

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Speaker 3: amenable to the retailer's stock let's say ANF included.

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Speaker 1: And then consumer discretion.

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Speaker 3: We're doing quite well today too as the group up

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Speaker 3: point nine percent. How important is the holiday season for

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Speaker 3: these retailers to keep their stock prices where they are

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Speaker 3: into the year end.

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Speaker 9: Well, certainly a deluge of earnings that we've really been

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Speaker 9: seeing from retailers, and it's really painting a mixed picture,

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Speaker 9: but we are still seeing to be underscored during this

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Speaker 9: time period. Is the consumer is really strapped right now?

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Speaker 9: We've been talking a lot about this K shaped economy

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Speaker 9: where essentially we are seeing the upper class continuing to

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Speaker 9: be resilient, still spending money, but we are seeing the

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Speaker 9: lower income consumer really being a lot pickier during this

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Speaker 9: time period, looking for spending more on necessities instead of

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Speaker 9: splurging during this time period. So, while we did hear

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Speaker 9: the National Retail Federation saying that they expect this to

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Speaker 9: be a record year, in terms of the traction that

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Speaker 9: we're seeing on Black Friday, which is Black Friday today,

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Speaker 9: through the five day stretch through Cyber Monday, we still

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Speaker 9: are seeing a resilient but cautious consumer. And as we

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00:21:51,480 --> 00:21:53,760
Speaker 9: think about what that means for stock prices for the

442
00:21:53,840 --> 00:21:56,680
Speaker 9: retail space, if you look at consumer discretionary Index of

443
00:21:56,720 --> 00:21:58,920
Speaker 9: the S and P five hundred, it's up only about

444
00:21:58,920 --> 00:22:01,439
Speaker 9: four percent, so clearlyagging the double digit games that we

445
00:22:01,520 --> 00:22:03,480
Speaker 9: are seeing from the broader market in the S and

446
00:22:03,480 --> 00:22:06,320
Speaker 9: P five hundred, and the majority of the holiday sales

447
00:22:06,400 --> 00:22:10,159
Speaker 9: account for about twenty percent of the sales more broadly

448
00:22:10,200 --> 00:22:12,600
Speaker 9: for the retail space between November and December. So this

449
00:22:12,640 --> 00:22:14,919
Speaker 9: is a very critical time period in terms of seeing

450
00:22:15,040 --> 00:22:17,600
Speaker 9: how this develops and how much consumer appetite we can

451
00:22:17,600 --> 00:22:18,360
Speaker 9: see during this time.

452
00:22:18,440 --> 00:22:21,000
Speaker 5: Yeah, you talk about neurocritical periods. I mean hard to

453
00:22:21,000 --> 00:22:22,679
Speaker 5: believe that we've only got one month left here in

454
00:22:22,680 --> 00:22:25,040
Speaker 5: twenty twenty five. It's been quite a year, a lot

455
00:22:25,080 --> 00:22:27,719
Speaker 5: of volatility, to say the least, I'm looking at an

456
00:22:27,760 --> 00:22:30,400
Speaker 5: S ANDP that's up almost seventeen percent, a Nasdaq one

457
00:22:30,480 --> 00:22:34,160
Speaker 5: hundred that's up twenty one percent, and Russell small caps

458
00:22:34,240 --> 00:22:35,480
Speaker 5: up about twelve percent.

459
00:22:35,600 --> 00:22:38,840
Speaker 6: So you know, what are traders focusing.

460
00:22:38,400 --> 00:22:40,280
Speaker 5: On at this point with only another month to go

461
00:22:40,400 --> 00:22:41,640
Speaker 5: until we wrap up the year.

462
00:22:42,359 --> 00:22:44,080
Speaker 9: Just about a month to go to wrap up the year,

463
00:22:44,080 --> 00:22:46,200
Speaker 9: and you are seeing traders, of course, trying to really

464
00:22:46,280 --> 00:22:48,520
Speaker 9: just settle their books as we're heading into year end.

465
00:22:48,800 --> 00:22:51,159
Speaker 9: Of course, the focus still remains on the Federal Reserve

466
00:22:51,200 --> 00:22:53,320
Speaker 9: and what they're going to do next, especially with us

467
00:22:53,320 --> 00:22:55,639
Speaker 9: seeing a lot of the stocks levitating off of this

468
00:22:55,760 --> 00:22:59,359
Speaker 9: idea of a potential FED rate cut ahead, and we

469
00:22:59,440 --> 00:23:01,520
Speaker 9: are really just seeing a lot of people just grappling

470
00:23:01,600 --> 00:23:04,000
Speaker 9: with how we can really end the year on a

471
00:23:04,040 --> 00:23:06,919
Speaker 9: positive note and see what are the opportunities in the

472
00:23:06,920 --> 00:23:08,840
Speaker 9: market right now given the fact that tariff have still

473
00:23:08,840 --> 00:23:11,520
Speaker 9: remained a concern through this entire year, We've been seeing

474
00:23:11,560 --> 00:23:14,359
Speaker 9: geopolitical tension still remaining and focus. So you are really

475
00:23:14,359 --> 00:23:16,920
Speaker 9: seeing the traders right now just trying to figure out

476
00:23:16,920 --> 00:23:19,320
Speaker 9: what sectors and spaces make the most sense in terms

477
00:23:19,359 --> 00:23:20,840
Speaker 9: of just having a defensive position.

478
00:23:21,000 --> 00:23:24,480
Speaker 3: I love that Nora sucks levitating what an idea, but

479
00:23:24,560 --> 00:23:27,959
Speaker 3: they are though on indices too, Nora, Melinda, always a pleasure.

480
00:23:28,000 --> 00:23:30,640
Speaker 6: Thank you so much for joining us this Black Friday.

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00:23:31,040 --> 00:23:36,399
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482
00:23:36,520 --> 00:23:40,240
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483
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484
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485
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486
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