Re: low-income consumers are starting to crack

Retailers jacked up prices and squeezed consumers. They might have
just blinked

Retailers are feeling jittery. Consumers aren't shopping like they
used to. In a game of chicken between stores and shoppers, it's the
stores that appear to be yielding first, by dropping prices on
thousands of products.
...
...
"The 'budget conscious consumer' is no longer just low- or
middle-income earners. By far the starkest decrease in intent to spend
is coming from the higher-income groups, and those that were
previously the most immune to an economic downturn are now tightening
their belts," said Chad Lusk, managing director in global consultancy
firm Alvarez & Marshal's consumer and retail group. "Retailers should
be thinking about targeted deals on higher-priced discretionary
merchandise, too, to increase buying frequency."


https://www.cnn.com/2024/05/05/business/retailers-cutting-prices/index.html