Consumers Showing Signs of Stress, Retailers Say

The driving force behind the U.S. economy lies in consumers, whose spending capabilities have consistently defied expectations. In the early months of 2020, following a brief yet impactful recession triggered by the pandemic, consumers engaged in significant expenditures on high-value items, ranging from patio furniture and flat-screen TVs to home gym equipment.

Subsequently, a phenomenon known as “revenge spending” emerged, marked by a prioritization of experiences that had been restricted during lockdowns, such as travel and attending concerts, DNYUZ reported.

Nonetheless, there are indications that a sense of caution is beginning to take hold among certain shoppers. As American savings diminish and inflation’s impact persists, coupled with other factors constraining budgets — particularly the impending restart of student loan payments in October — a shift seems to be unfolding.

READ MORE: https://dnyuz.com/2023/08/25/u-s-consumers-are-showing-signs-of-stress-retailers-say/

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