Retail Sales Up Slightly for August as Consumers Spend on Socialization and Wellness
September 21, 2023
In August, U.S. retail sales saw a 0.6% increase compared to July, indicating ongoing consumer spending despite economic concerns. Back-to-school shopping and strong apparel sales contributed to increased mall traffic, with lifestyle centers and outlets outperforming enclosed malls. Additionally, consumer spending trends show a surge in cat-related supplies, a growing demand for massage therapy, and a significant rise in Halloween costume sales, while Taylor Swift’s concerts had a notable positive impact on local economies, particularly in Nashville and Pittsburgh.
Recent News
Consumer Confidence Drops Due to Rising Inflation Worries
Consumer sentiment took a hit as inflation concerns soared, despite otherwise positive signals in the economy, according to a recent survey.
UK Economic Growth Quickly Exits Recession
Britain’s economy has recently shown promising signs of recovery, with the first quarter of 2024 witnessing the strongest growth in almost three years.
Taco Bell Finally Releases Cheez-It Collaboration
Taco Bell’s collaboration with Cheez-It is finally hitting restaurant locations this summer, marking the debut of one of its most highly anticipated test menu items.
Target Removes LGBTQ Pride Month Products From Some Stores
Target Corporation has made a strategic move regarding LGBTQ-themed merchandise for this year’s Pride Month in June.