Holiday Spending: Cautious Consumers, Subdued Season

Holiday shopping season faces headwinds as consumers tighten belts, impacting retail sales and profit margins. Target and Home Depot see share drops, Walmarts growth driven by groceries. University of Michigans consumer sentiment gauge hits record low, wealthier individuals also becoming cost-conscious. Experts warn of slower revenue growth, tighter profit margins if consumer sentiment worsens and job market softens. Despite predictions of record-breaking holiday spending, shopping season expected to be more subdued due to persistent inflation.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.