In this episode of CAR WASH The Podcast, International Carwash Association CEO Eric Wulf is joined by Alex Chausovsky, a seasoned market researcher and analyst with over 20 years of expertise in economics, business cycles, and industry-specific trends.
The episode explores the ICA’s Q3 research survey, shedding light on year-end retail growth projections within the car wash industry. Eric and Alex break down current market dynamics and unemployment trends and analyze the Federal Reserve's reactions. They also explore the potential impact of the upcoming election on consumer spending and how these factors might influence the car wash sector.
Key highlights include:
- Consumer Spending: Despite rising consumer debt levels, spending remains steady, though there's noticeable hesitancy, particularly among younger demographics (39 and under). Credit card delinquencies are up, yet auto loan delinquencies have slightly decreased from the previous quarter.
- Economic Outlook: Chausovsky provides strategic advice for car wash owners on navigating these economic uncertainties, leveraging insights to optimize business performance.
- Election Impact: While elections are a significant event, Chausovsky emphasizes that the US economy's size and resilience often mitigate election-related concerns, advising industry players to focus on what they can control.
Join Eric Wulf and Alex Chausovsky on for Destination 3: Projections on December 13, at ROADMAP 2024 (https://carwashroadmap.com/).
