consumer purchases is down for this Thanksgiving season

Public consumer companies are expecting lower that previous revenue numbers for the 2022 holiday season, according to an Accenture survey of 130 executives. Why it matters: Analysts and vendors are forecasting a softening of sales in 2019, and the executives surveyed expect the trend to continue into the next decade, potentially signaling more pain for these companies. The details: 54% of companies surveyed forecast consumer revenue for the 2022 holiday season will be lower than in 2018, and 16% said they expect it to fall more than 10%. For 2019, 42% of companies surveyed forecast consumer revenue will be lower than the previous year, and 9% said it will be lower by at least 10%. Executives expect digital sales to be lower than in-store sales in 2019, and that trend is expected to continue for the next decade, according to the survey. 60% of respondents said they expect in-store sales will be lower than digital sales in 2022. 47% of respondents expect in-store sales to be lower than digital sales in 2023-24. The big picture: "The consumer industry is undergoing a period of significant transformation as companies embrace the imperative to deliver seamless, personalized experiences across the consumer journey — from shopping to fulfillment," said Anna Rosenman, managing director of Accenture's digital retail practice. "This transformation is fueling change across the industry, but it's particularly disruptive for brick-and-mortar retailers, which are grappling with heightened competition, shrinking margins, declining foot traffic, and evolving consumer expectations." The intrigue: The survey also found that 66% of executives expect bricks-and-mortar stores to "dramatically shrink" in terms of square footage in 2022. What they're saying: "This is a real issue," said one executive who provided feedback on the condition of anonymity. "It’s not just the economy — it’s what consumers are asking for." "It’s part of the whole shift from shopping as a pastime to shopping as a necessity," the executive said. "People are shopping more, but their expectations are changing." Be smart: Retail executives surveyed said one of their biggest worries is the threat of Amazon. Amazon's next move: Amazon is expected to release its quarterly earnings on Thursday, and investors will be looking for an update on the company's foray into health care. Amazon has already disrupted the pharmacy business and is rumored to be eyeing the health care supply chain, according to CNBC. Amazon's recent purchase of online pharmacy PillPack for $1 billion has industry watchers speculating about what it might do next. The big picture: Amazon's move into health care could be "the biggest business shift of a generation," CNBC's Jim Cramer said on Sunday. "The next trillion-dollar revolution will be in health care," Cramer said. "Why? Because health care is a gigantic problem." "Amazon has been preparing for this shift for years," he added. "It’s not a coincidence that, soon after buying PillPack, Amazon announced a partnership with JPMorgan Chase and Berkshire Hathaway."