Below is our "Chart of the Day" from today's Early Look written by Retail analyst Jeremy McLean.
|
For almost 2 years now, we have seen the “K-shaped” recovery dynamics at play. As inflation accelerated many consumers quickly ate through any savings they had and then started to see discretionary spending power diminish. That led to low-income consumers seeking value as early as 1H2022 (when gas prices spiked), then middle-income consumers followed suit in late 2022 into 2023, and in more recent quarters, even higher-income consumers are seeking value. |
