The State of the American Consumer
July 25, 2022
If you are experiencing financial stress, you are not alone. A recent survey from the American Psychological Association found that 87% of participants were stressed about the rise in prices of everyday items due to inflation.1
Here are some examples of how consumer spending has changed recently:
- Walmart found that “customers walked out of stores and left the retailer’s website with fewer purchased items. More of them skipped over new clothing and other general merchandise as they saw prices rise on gas and groceries.”2
- “Target said it is seeing a resilient consumer who has new priorities as the pandemic becomes more of an afterthought.”2
- Home Depot told investors that it wasn’t seeing any differences in consumer behavior yet.2
The American consumer plays a huge role in the stock market, which financially impacts us as a society. When consumers are under financial stress, they tend to spend less money, which can in turn have a negative impact on the market.
Contact us to help you create a detailed strategy to be prepared for your financial future.
1.https://www.apa.org/news/press/releases/stress/2022/march-2022-survival-mode
2.https://www.cnbc.com/2022/05/18/what-walmart-target-home-depot-and-lowes-tell-us-about-the-economy.html