Real spending in the United States had been climbing since the early days of the COVID-19 pandemic. But then inflation rose, too, causing consumers to think twice before pulling out their credit cards this holiday season. Now, say senior partner Becca Coggins and coauthors, pessimistic consumer sentiment is among the factors leading to overall growth that is lower than during the prepandemic period.
To read the article, see “Hitting the mark: Why markdowns matter more than ever,” December 2, 2022.