Chart of the Day: Retailers Prep for Tougher Times and Frugal Customers in 2023

Contact Your Elected Officials
Right Wire Report Header

CNBC – January is typically an overlooked month for retailers. Shoppers make returns and exchanges. They come to stores with gift cards in hand. And they may spring for workout clothes or other items to follow through on New Year’s resolutions.

But this year, January carries higher stakes. The next few weeks, which close out many retailers’ fiscal year, could help determine whether the holiday quarter is a win or a bust. It’s an essential time for helping stores clear out excess inventory, too. January could also set the tone for 2023 — when some economists and retail industry watchers anticipate the U.S. will tip into a recession.

So far, early holiday results have been better than some economists and retailers feared. Sales from Nov. 1 to Dec. 24 rose 7.6%, according to MasterCard SpendingPulse, which measures in-store and online retail sales across all forms of payment. The figure includes restaurants and is not adjusted for inflation, which rose 7.1% year over year in November. See the current trends in retail shopping in the chart below.

Personal saving rates have declined significantly. The percentage of disposable income that people save was 2.4% in November, according to the U.S. Bureau of Economic Analysis. That’s down from an average of 6.3% pre-pandemic, according to S&P Global Market Intelligence, which crunched the numbers from 1991 to 2019.

The reality is that consumer spending throughout the 40-year high inflation rate in 2022 was flat – stagflation. Without any Fed or government stimulus and with the Fed’s recent hikes in rates, means that retailers and shoppers alike are heading for difficult times.

What about you – in the current economic environment, have you made any adjustments to your spending? Give us some ideas on what you see in the comment section below.

By Tom Williams

Right Wire Report
Right Wire Reporthttps://rightwirereport.com/
Right Wire Report was a group of concerned citizens who took action to promote traditional values and work for a better America.

Canada Forces Man to Remove Cameras From Private Property Amid Anti-Racism Push

Government expands its surveillance powers, while restricting citizens from monitoring their own property, citing concerns over “racism.”

Are the E. Jean Carroll Lawsuits a RICO Case?

Trump lost his appeal in the E. Jean Carroll cases, leaving him liable for $83.3M. He plans to take the matter to the U.S. Supreme Court.

All Apologies For the Culture War Slop

"Forgive me for ignoring the elite-driven political/economic excesses, focusing instead on divisive culture war slop."

Rising sea levels are less of a threat than we were told

New study challenges climate alarmism: sea levels aren't rising faster than the past century, despite dire warnings of floods and mass migrations.

President Trump is Being Wrongfully Obstructed on Tariffs

Podcaster Zach De Gregorio, in “Wolves And Finance,” delivers a sharp editorial unpacking the truth behind Trump’s international tariff policies.

Authors of ‘Astonishing’ Study Showing Unvaccinated Kids Are Healthier Refused to Go Public With Results

Attorney Aaron Siri told the Senate a major study found vaccinated children were significantly more likely to develop chronic diseases.

US Government Imposes Sanctions on Cyber Scam Centers in Southeast Asia

U.S. govt has imposed sanctions on 19 individuals and entities for their alleged roles in an extensive network of scam centers in Burma and Cambodia.

DOJ Announces Federal Charges Against Suspect in Fatal Stabbing of Ukrainian Woman

DOJ charged man accused of fatally stabbing Ukrainian refugee on a light-rail in Charlotte, amid a growing national outcry over her murder.

Texas A&M Ousts 2 Officials After Student and Professor Clash Over Gender Identity Lesson

Texas A&M officials were removed and DOJ probe launched after video showed prof. dismissing student over gender lesson in children's literature class.

Trump Runs out of Patience With China, Sharpens His Words

President Donald Trump’s recent remarks targeting China and its allies mark a noticeable shift in tone.

Trump Signs Order Renaming Department of Defense as Department of War

President Donald Trump on Sept. 5 signed an executive order renaming the Department of Defense as the Department of War.

Trump Signs Executive Order Targeting Countries That Unlawfully Detain Americans

President Trump signed an EO on targeting the unlawful detention of American citizens around the world and to facilitate the release of hostages.

Trump Sends Warning to Venezuela After US Military Strikes Boat Allegedly Carrying Drugs

President Trump sent a warning to Venezuela after the U.S. military struck what the administration says was a boat carrying drugs in the Caribbean.
spot_img

Related Articles

Popular Categories

MAGA Business Central