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.
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