How spending patterns at large retailers like Walmart, Target, Best Buy and more are changing in our inflationary economy.
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Key takeaways:
👉 Spending insights from WalMart, Dollar General, Dollar Tree, Dick’s, Foot Locker, Target, Lowes, Home Depot, Abercrombie, Macy’s, Nordstrom, Best Buy, Tapestry and Capri.
👉 Consumer spending less on discretionary items.
👉 Consumer trends show spenders are usually coming in to be specific food items (with a lean towards private label items over name brand in attempts to cut cost), and leaving with a smaller basket than before.
👉 Large purchases that were generally being made during the pandemic have slowed down.
👉 High-End/Aspirational consumers are buying less of those high-priced items in the retail space according to data from Tapestry.
👉 We're curious to see how student loan repayment resuming affects spending.
👉 Best Buy mentioned credit card delinquencies are getting back to a more normalized level.
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