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Big box retailers bringing the discounts this holiday season pw06
Big box retailers bringing the discounts this holiday season
After two years of higher spending, consumers are battling challenges like rising interest rates, dwindling savings, the return of student loan payments, and credit card debt.
"Call it choiceful, discerning, careful, cautious," Telsey Advisory Group CEO Dana Telsey told Yahoo Finance Live. "Its going to be a cautious [holiday] season."
JCPenney CEO Marc Rosen told Yahoo Finance that its customers, who typically earn a median household income of $75,000, are facing "bills that are $700 more a month" compared to two years ago, "whether thats fuel prices, rent, or food."
Retailers, in turn, are facing slowing sales — unless they break out the coupon books.
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