2024 has been another challenging year for retailers. Still-high prices and an uncertain economic climate led many shoppers to trade down and cut back on unnecessary indulgences. Value took center stage, as cautious consumers sought to stretch their dollars as far as possible.

But price wasn’t the only factor driving consumer behavior in 2024. This past year saw the rise of a variety of retail and dining trends, some seemingly at odds with one another. Shoppers curbed discretionary spending but made room in their budgets for “essential non-essentials” such as gym memberships and other wellness offerings. Consumers placed a high premium on speed and convenience, while at the same time demonstrating a willingness to go out of their way for quality or value. And even amid concern about the economy, shoppers were ready to pony up for specialty items, legacy brands and fun experiences — as long as they didn’t break the bank.

How did these currents — likely to co