A widening difference between high and low earners will continue to impact the holiday shopping season, according to a new analysis from JLL.
Retail shoppers are in a significantly different position than a year ago, with GDP declining 1.6% and 0.6% in the first and second quarters, respectively. Consumer confidence is down, with Americans spending 25.6% more on gas and 11.4% more on buying groceries than they did a year ago.
"There has been considerable trepidation in consumer outlook and a shifting of spending away from durable goods," JLL analysts note in a new report. "Retail sales have managed to stay afloat, rising nominally most months this year, and slightly eking out the effects of inflation with 9.1% year-over-year growth in August."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
