Tanger CEO Yalof says consumers still spending despite low confidence
U.S. consumers are willing to spend this holiday season only if there are deals, despite concerns about declining consumer confidence and prices, Tanger CEO Stephen Yalof told CNBC on Tuesday.
“Retailers offer discounts to meet the consumer, and the consumer responds by shopping,” Yalof said on CNBC’s “Money Movers.”
Yalof said Tanger strives to offer shoppers access to premium brands at consistently compelling prices. Retailers in the company’s outlet portfolio focused heavily on promotions during the holidays, helping drive traffic and sales.
Yalof said customers “want to come to a space where they can buy products at full price, maybe above the price point they want to spend, but embrace that price point because they know it’s priced at value every day.”
Stating that holiday traffic in Tanger’s outlet centers is strong, he stated that the parking lots are full and there is stable activity throughout November and December.
“I feel like the customer is very resilient,” he said. “They want to spend it.”
Yalof’s comments come on the heels of new data showing consumers are spending more than their confidence levels suggest.
U.S. retail spending rose 4.2% year-over-year during the holiday season, before adjusting for inflation, according to preliminary data. Visa It was published on Tuesday.
The report, which tracks payment activity as of November 1, found that in-store purchases accounted for 73% of spending, while online sales supported growth, up 7.8% from the previous year.
At the same time, sentiment is subdued.
Consumer confidence weakened in December as Americans grew more concerned about persistently high prices and the impact of President Donald Trump’s sweeping tariffs.
Conference Board It reported Tuesday that its consumer confidence index fell 3.8 points to 89.1 from an upwardly revised 92.9 in November, approaching the 85.7 level seen in April when the administration imposed broad import duties on U.S. trading partners.
Similarly, the latest CNBC All-America Economic Survey, released last week, found that 41% of Americans plan to spend less this holiday season, up 6 points from the previous year, as higher prices continue to shape where and how shoppers spend.
Looking ahead, retailers appear confident about demand in 2026, Yalof said.
“Retailers want stores. They love bricks and mortar,” Yalof said, adding that as department stores continue to consolidate, brands are increasingly trying to control their own physical retail presence.
