US consumers show subtle spending shifts as high fuel prices persist, retailers report
By
Associated Press
Summary
U.S. consumers are showing subtle but noticeable shifts in spending behavior as high fuel prices and inflation persist. While overall spending hasn't collapsed, retailers and analysts report changes such as altered gas-buying routines, fewer visits to clothing and furniture stores, and cutbacks by lower-income shoppers. Major companies like Walmart, McDonald's, and Dollar General have observed both resilience and selective pullbacks among consumers, indicating a reassessment of purchasing priorities rather than a full-scale spending halt.
Source
bskyUS consumers show subtle spending shifts as high fuel prices persist, retailers report1011now.comKey quotes
· 3 pulledU.S. consumers haven't stopped spending money since the Iran war drove up fuel prices, but many shoppers are reassessing what they buy and where.
The behavior changes observed so far are subtle, such as altered routines for buying gasoline and fewer visits to clothing and furniture stores.
Executives from American mainstays like Walmart, McDonald's and Dollar General cited overall shopper resilience as well as noticeable cutbacks by lower-income consumers.
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