This Has Never Happened Before
The U.S. economy, traditionally driven by consumer spending, has seen some fluctuations in patterns recently. Post the brief 2020 recession due to the pandemic, there was an initial surge in consumer spending on goods, followed by "revenge spending" on experiences like travel and events that were inaccessible during lockdowns. Recent indications, however, show a more conservative approach from consumers. Factors contributing to this change include the dwindling of American savings, persistent inflation, and impending student loan payments due in October. Major retailers like Macy's, Kohl’s, Foot Locker, and Nordstrom have reported shifts from extravagant purchases to more necessity-driven buying. While overall consumer spending remains solid, with July's retail sales surpassing expectations, signs of economic pressure are evident. Retailers catering to lower-income segments, such as Burlington Stores, are highlighting these financial strains, even though their sales continue to rise. Discount-focused retailers like Burlington, Walmart, Dollar Tree, and TJX have seen an uptick in sales as consumers search for deals and cut back on discretionary spending. This is juxtaposed against the dip in performance for departmental stores and several fashion outlets. Other concerns highlighted by retail executives include increasing credit card delinquencies and a surge in retail theft. Notably, Jeff Gennette of Macy's mentioned a noticeable pullback from customers in discretionary spending. Many consumers are now prioritizing value over luxury, seeking products that offer more for less. A tangible reflection of the economic strain on consumers is the rise in credit card delinquencies reported by Macy's, Kohl's, and Nordstrom, indicating the challenges faced by many American shoppers. #inflation #studentloans #studentdebt #debt #USConsumer #Economy
TOPICS AND TIMESTAMPS:
Consumers Stop 0:00
Charts Tell the Story 8:29
Shipping and Logistics Going Off 11:08
—————————————————————————————————
🔥 All My Tips and Strategies on the Discord Community: 🔥
https://discord.gg/QNgHFgxkq9
—————————————————————————————————
💵 HOW TO MAKE MONEY ON AMAZON: 💵
👉 http://TheAmazonGPS.com 👈
—————————————————————————————————
LOOK THROUGH MY BOOKS! http://books.themoneygps.com
MY FAVORITE BOOKS: https://youtu.be/Y_mwbfp1ULU
SUPPORT MY WORK: https://www.patreon.com/themoneygps
PAYPAL: https://goo.gl/L6VQg9
—————————————————————————————————
Sources Used in This Video:
http://bit.ly/TheMoneyGPSSources2023
-
12:45
The Money GPS
6 months ago $0.08 earnedAmericans Now DRAINING Retirement Accounts to Pay Medical Bills
4551 -
23:23
TudorDixon
20 hours agoForgiving Dems Will Be Happy To Replace Biden/Harris | The Tudor Dixon Podcast
25.6K10 -
19:29
ScammerRevolts
16 hours agoHe Tried To Scam Me... So I Reset His Phone
43.8K8 -
16:08
RealitySurvival
1 day agoTop 12 Things Preppers Should Teach Their Children!
33.7K1 -
13:21
World Nomac
16 hours agoExtreme Bungee Jump in AlUla Saudi Arabia 🇸🇦
43.8K3 -
2:47:57
Fresh and Fit
11 hours agoMost Embarrassing Rejections Women Have Faced... w/ SNEAKO
151K190 -
3:30:25
Akademiks
12 hours agoHappy. Birthday Kendrick Lamar. Kodak Black robbed Stevewilldoit? Sosa Returns to CHIRAQ. Carti OTW?
94.3K37 -
1:22:53
Steve-O's Wild Ride! Podcast
4 days ago $0.28 earnedDoes Gene Simmons Regret Humping Thousands Of Chicks? - Wild Ride #219
42.7K41 -
33:55
Athlete & Artist Show
3 days agoS4E6: OILERS ARE DONZO, Boychuk Re-Signs In Berlin
47.7K3 -
1:59:38
Kim Iversen
15 hours agoIs The US Gearing Up For WW3? Possible Ebola 2014 Lab Leak Cover-Up Linked To Possible Covid Lab Leak Cover Up
104K258