A Mixed Picture for Retailers as Bargain-Hunting Shoppers Pick Their Spots
August 30, 2023
U.S. retailers are experiencing a mixed picture in terms of consumer spending trends, with discounted apparel, small home projects, and beauty products seeing strong demand, while other discretionary purchases remain subdued due to elevated prices. Discount apparel chains like TJX Cos and Ross Stores, along with cosmetics retailer Ulta Beauty, have raised their annual expectations, while retailers like Macy’s and Kohl’s are taking a more cautious approach. Retailers have noted that consumers are prioritizing experiences like movies and vacations over discretionary purchases, and the impact of inflation on spending habits is still evident.
Recent News
Grocery Prices Have Finally Fallen for the First Time in a Year
Some grocery staples are seeing a decline in price.
Under Armour Layoffs Set Company up for Major Restructuring, Says CEO
Amid a decline in revenue, the brand is restructuring.
Almost 900,000 Yogi Tea Bags Recalled Over Pesticides
East West Tea Company, LLC has initiated a recall affecting almost 900,000 Yogi tea bags in 54,846 boxes sold nationwide.
McDonald’s Introduces Limited-Time $5 Value Meal & New McFlurry
McDonald’s will launch a $5 value meal in the U.S. starting June 25, available for roughly a month.