Target\n \n , Best Buy\n \n , Macy’s\n \n and other chains say shoppers have pulled back on discretionary goods like clothing, electronics and home improvement. They have shifted their spending to paying for groceries and household basics. “Spiraling inflation forced families to put discretionary purchases on hold and focus most of their spending on necessities,” Target CEO Brian Cornell said this week.
“The consumer electronics industry continues to feel the effects of the broader macro environment and its impact on consumers,” Best Buy finance chief Matt Bilunas said. Best Buy predicts its comparable sales will decline 3% to 6% this year. Some discount chains may benefit from consumers seeking out bargains. TJX, the parent of TJ Maxx and Marshalls, said it expects comparable sales to grow by up to 3% this year.
irelands top consumer expert .. when you are f=====g broke ; you tend to buy less ; take cheaper or no vacations
JoeBiden and PressSec lie and say everything is fine
Wasn’t this EXACTLY what the government said they wanted when raising the interest rates?
How about not ripping people off
Ohhhhh instead of the usual “Stubbornness of inflation” cnn is now using “Strain of Inflation” as its go to catchphrase…
This is how inflation drops, discretionary spending falls off a cliff. When demand exceeds supply, prices go up, when supply exceeds demand, prices go down. Side note, when supply exceeds demand, people start losing their jobs.
Boo Hoo
I’m not paying 3 bucks for a 2 liter or 5 bucks for a bag of chips better for me anyway
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