Consumers amp up back-to-school spending because of inflation: Strategist

📆 8/29/2023 8:33 PM
📰 YahooFinanceCA

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U.S. consumers are opening up their wallets wider for back-to-school shopping this year as compared to last year, according to Jefferies' latest consumer survey. Jefferies Vice President of Equity Research Corey Tarlowe joins Yahoo Finance Live to discuss consumer spending patterns. '50% of the people who we surveyed actually intend to spend more into back-to-school,' Tarlowe says on the survey of 600 U.S. consumers. 'But clicking a little deeper, 70% actually cited inflation as the primary reason that they're spending more.' Tarlowe uses credit card debt and earnings data from retailers like Walmart (WMT) to forecast what could be in store for retailers in 2023's holiday season.

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