Is This the End of the Chip Shortage!?, Retail Report on Millennial Path to Purchase, Philly Philly

The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier

We’re firing up the Monday machine as we examine the findings of a recent retail report on the more complex journey of the Millennial buyer. We also cover earnings reports and comments from chip manufacturers and electronics retails which look to be signaling the end of the chip shortage. We also talk about what’s going down in Philadelphia, PA tomorrow.

• Millennials follow a more complex path to purchase
  • Verint Experience Index for Retail Report 2022, (ranks the omnichannel experiences of the top 25 largest retailers in the U.S. based on revenue) fewer than 36% of surveyed Gen Z and millennial consumers under 40 prefer to visit stores when interacting with retailers, compared to more than two-thirds of surveyed boomer shoppers 57 and older.
  • Over 75% of these respondents using at least one other digital resource – ratings websites, influencers, and social media – to inform purchasing decision
  • Over 51% place high value in ‘click and collect’ at an actual retail location as only 28% make purchased via the retailers website
  • Jenni Palocsik, VP, marketing insights, experience and enablement for Verint says, ““Gen Z are by no means the only demographic that brands should focus on to adapt and enhance the customer journey, but since they are most likely to engage digitally, seamless experiences are the biggest drivers of better customer satisfaction, NPS and repeat business.”
  • Take away: Prioritize the Gen Z experience the standard and everyone else will love it too
• Some chip makers are signaling the end of the chip boom
  • According to the Philadelphia Semiconductor Index, which tracks major global chipmakers like Intel Corporation, Qualcomm, ASML Holding, and Nvidia Corporation, as well as TSMC, rose by 1.9%.
  • On an earnings call, warnings were issued by TSMC, Taiwan Semiconductor Manufacturing Company, that stockpiling by manufacturers in the early days of the pandemic are likely to cause a reduction of orders as chip inventories are pared down
    • Intel CFO David Zinsner, mirrors this sentiment, projects lower Q3 revenue
  • Acer CEO Jason Chen says “the situation has changed” regarding the chip shortage and is getting sales calls again, asking him to buy more chips
  • TSMC reducing capital expenditures and pushing orders for chip manufacturing equipment
  • Consumer electronic demand is waning, however, demand for cars remains strong
  • Crypto crash may also be helping the chip situation
  • Take away: Chip shortage days coming soon to the history books, inventory not far behind, now we’ll get to see who was doing the work in the off season

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Hosts: Paul J Daly and Kyle Mountsier
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