Costco Shoppers Are Continuing To Cut Back on Big-Ticket Items, Even as Inflation Falls, as Americans Put Off Buying Jewelry, Laptops, and Furniture
September 27, 2023
Costco shoppers are showing restraint in purchasing high-value items despite a drop in inflation, with the average transaction value down by 4.5% year-over-year in the U.S. This decline is attributed to reduced sales of big-ticket non-food discretionary products like home furnishings, jewelry, and hardware, according to CFO Richard Galanti. Online sales of major big-ticket items also saw a 5% year-over-year decrease, marking an improvement from the previous quarter’s 20% drop, with gaming products, tablets, and some Apple items witnessing increased sales.
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