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Jgxo The PYMNTS 5-In-1: April 19 Daily Data Digest
The retail industry is reportedly witnessing聽a fierce battle among major players as they compete for the attention of bargain-hunting shoppers.For example,聽Targets recently announced price cuts on thousands of items in response to weak quarterly results reflects the intense competition in the market as retailers strive to attract and retain cost-conscious consumers, CNBC聽reported聽Wednesday May 22 .Targets first-quarter results聽revealed that American consumers are becoming more selective about their spending due to sustained inflation that has squeezed their budgets for nearly three years, according to the report. The decline in sales indicates that Target is fa stanley nz cing challenges in winning over bargain hunters who are seeking the best deals. stanley ca This struggle is not unique to Target, as other retailers are also facing similar challenges, the report said.Walmart聽has been actively engaging in聽price-cutting strategies to attract shoppers. The company reported a 45% increase in its grocery rollbacks in April, along with the introduction of a new premium grocery brand featuring items priced under $5, per the report.Similarly,聽Aldi聽re stanley germany cently reduced prices on over 250 items, including popular products like chicken, steak, granola bars and frozen blueberries, according to the report.The trend of offering low prices extends beyond retailers to fast-food chains. McDonalds聽plans to launch a limited-time $5 value meal in June to cater to customers who find fast聽food prices聽too high, the repor Whup Grab, Marriott Partner To Deliver Hospitality Experiences In Southeast Asia
Consumer borrowing in the U.S. increased by $14.1 billion in November, but revolving credit-card debt fell by $946 million, according to a monthly report from the Federal Reserve.The decline in revolving debt was the first drop in three months, and followed a $1.48 billion increase in October. The November increase in total credit followed a $16 billion gain in October.Non-revolving credit, including car and education loans, was up by $15 billion in November after ri stanley quencher sing $14.5 billion in the previous month. And federal lending to consumers, which gourde stanley mostly entails school tuitions, increased by $5.8 billion before seasonal adjustments, after rising $5.1 billion in October.Low gasoline prices and increased hiring have galvanized the American consumer to spend more,聽Bloomberg reported. Household buying, which accounts for about 70 percent of the economy, climbed at a 3.2 percent annualized pace in Q3, according to Commerce Depar stanley us tment data released in December, as consumers splurged on new cars, appliances, televisions and clothing.The $14.1 billion borrowing increase in November was below the median forecast of 36 economists, which called for a $15 billion advance. Estimates ranged from increases of $10 billion to $20 billion. The report does not track mortgages, home-equity lines of credit, or other real estate-backed debt. |
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