Know The Difference Minute

Consumer spending has been healthy but RetailMeNot’s survey says roughly half of shoppers plan on scaling back.

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What’s it gonna be?
Welcome to the Know the Difference Minute for Thursday, November 17th.
When it comes to a key holiday season for retail, consumers will see full shelves and deals. There’s a glut of inventory. The retail supply chain capacity is better. Everything out-of-stock last year should be back.
Even with high inflation, consumer spending has been healthy. Will that be enough? RetailMeNot’s survey says roughly half of shoppers plan on scaling back. Blame inflation, lower savings, and declining real wages.
On the flip side, the National Retail Federation is forecasting November and December sales to grow between 6 and 8%.
No matter what, the holidays still put a dent in the wallet. The average household will spend over $1,400. If that holds up, it’ll be about in line with last year according to Deloitte. Let’s hope for the best.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.