Are the world’s wealthy falling out of love with luxury goods? An opinion piece published Thursday (July 4) in the Financial Times argues that the rich — and even many people in the “aspirational middle class” — are rethinking things like high-end handbags and expensive sports cars....
Since the start of the pandemic, PYMNTS Intelligence has tracked the real impact of inflation, as real wages, adjusted for price increases, have failed to keep pace with sticker shock. Coming into 2024, PYMNTS found that 85% of consumers said increases in their paychecks had...
Artificial intelligence is poised to transform the financial sector and broader economy, creating opportunities and risks that central banks must navigate carefully, according to a top official at the Bank for International Settlements. In a Sunday (June 30) speech at the BIS annual meeting, Hyun...
As aggregators compete to win the spending of financially struggling consumers, more players in the space are expanding their acceptance of Supplemental Nutrition Assistance Program (SNAP) Electronic Benefits Transfer (EBT) payments. Target-owned same-day delivery aggregator Shipt, for instance, recently said it has begun accepting these...
July 02, 2024
Since the start of the pandemic, PYMNTS Intelligence has tracked the real impact of inflation, as real wages, adjusted for price increases, have failed to keep pace with sticker shock. Coming into 2024, PYMNTS found that 85% of consumers said increases in their paychecks had not matched the pace of higher pricing. Eighty-two percent of […]
July 02, 2024
Artificial intelligence is poised to transform the financial sector and broader economy, creating opportunities and risks that central banks must navigate carefully, according to a top official at the Bank...
June 28, 2024
This week in the ongoing battle between retail giants Amazon and Walmart, the two companies are upping their discounting efforts in an effort to secure the loyalty of cost-conscious consumers....
June 26, 2024
Merchant steering, which is a practice where retailers offer discounts to consumers if they use certain payment methods, could be getting eclipsed by surcharges and tipflation. The PYMNTS Intelligence report...
July 04, 2024
This month’s jobs report is projected to show slowing hiring and cooling wages. That’s according to a survey of economists published Thursday (July 4) by Bloomberg News, one day before the Bureau of Labor Statistics releases its monthly wages/employment report. This survey forecasts that payrolls likely increased by 190,000 in June, while average earnings probably rose around 3.9% year […]
July 04, 2024
Are the world’s wealthy falling out of love with luxury goods? An opinion piece published Thursday (July 4) in the Financial Times argues that the rich — and even many people in...
June 30, 2024
After seeing revenues surge during the pandemic, Target has been facing tough times. A report Sunday (June 30) by the Financial Times (FT) examines the retailer’s recent struggles: sales have...
June 23, 2024
Consumers are spending less at restaurants as menu prices remain high. And as Seeking Alpha reported Saturday (June 22), it’s a situation that’s left some eateries embracing creative promotions to...
