Consumer spending is beginning to show signs of recovery going into the summer, but major retailers are not getting their hopes up. Findings from the National Retail Federation’s CNBC/NRF Retail Monitor announced Monday (June 10) showed that in May, consumer spending increased 1.35% relative to...
As retailers see consumers trim spending on large-ticket items, many shoppers are turning to secondhand channels to make large purchases such as home furnishings. By the Numbers For the “Consumers Shop Secondhand Stores as Often as Other Retail” installment of the “Consumer Inflation Sentiment Report”...
Still feeling strain on their budgets from ongoing macroeconomic challenges, consumers are cutting out pricy nonessential purchases, according to Big Lots. On Thursday (June 6), the discount home goods retailer, which has more than 1,300 locations across the country, reported lower-than-expected first-quarter fiscal 2024 financial...
U.K. and U.S. retailers are reportedly finding that deep discounts aren’t enough to woo consumers. “Even the strongest and highest profile brands up and down the country are struggling,” said Julie Palmer, a partner at British consulting firm Begbies Traynor Group, told Bloomberg News in an interview published Sunday...
May 31, 2023
Merchants are embracing smaller footprints in a greater effort to cut costs and renew customer focus. Marking a significant shift in retailer strategy, major stores determined to adapt to the reality of today’s economic landscape are overhauling their brick-and-mortar approach. The move is being spearheaded by Macy’s, which is branching out from the traditional mall […]
May 24, 2023
The latest data from PYMNTS on paycheck-to-paycheck living shows that high earners feel the pinch of credit card debt and wages that aren’t keeping up with inflation. And that may...
March 24, 2024
U.K. and U.S. retailers are reportedly finding that deep discounts aren’t enough to woo consumers. “Even the strongest and highest profile brands up and down the country are struggling,” said Julie Palmer, a partner at British consulting firm Begbies Traynor Group, told Bloomberg News in an interview published Sunday (March 24). She cited a “difficult macroeconomic environment, reduced discretionary […]
March 07, 2024
Big Lots will continue its “extreme bargains” campaign into 2024 as it looks to improve sales. The discount retailer on Thursday (March 7) released earnings that showed its comparable sales down 8.6%,...
November 30, 2023
Big Lots says its quarterly earnings show the impact of a cautious consumer. The discount retailer’s numbers, released Thursday (Nov. 30), showed comparable sales down 13.2%, as shoppers demonstrated hesitancy about buying...
June 05, 2023
Retailers have begun scaling back their warehouse and logistics operations amid changing consumer spending patterns. That’s according to a report Monday (June 5) by The Wall Street Journal, which names...
