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From unfilled gas tanks to fewer frills, retailers see US consumers rethink their spending
U.S. consumers are adjusting spending habits amid rising fuel prices linked to the Israel-Hamas war, with retailers reporting reduced gasoline purchases, fewer visits to clothing and furniture stores, and increased use of wholesale club gas stations. Executives from Walmart, Costco, and others note lower-income customers are cutting back, while economists warn of broader financial strain as tax refunds diminish.
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- Walmart and Target are about to show just how much shopping habits have changed due to the Iran war
- Walmart warns US shoppers are cutting spending as higher gas prices bite
- As gas prices surge, consumers search for other savings
- US Retail Sales Moderate in April as Gasoline Prices Surge
- Retail signals portend trouble for US consumers