Consumers are still consuming
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 16 July 2024
⏱️ 28 minutes
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Summary
Retail sales numbers released today show spending was flat last month. But if you look a little deeper, you’ll see Americans spent more in June than May. What does this mean for the Federal Reserve as it considers lowering interest rates? Also: Homebuilders are feeling a little less confident, and AI is trying to read emotions. Plus, the nocturnal sprint at UPS’ one-day-shipping hub.
Transcript
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| 0:00.0 | It's the sound of another sale on Shopify, the all-in-one commerce platform to start, run, and grow your business. |
| 0:09.0 | And thanks to award-winning help with an extensive business course library, Shopify is ready to support your success every step of the way. |
| 0:18.0 | Sign up for a one-pound per month trial period at shopify.co. UK slash marketplace 22 all lower case. |
| 0:26.7 | Go to Shopify.co. UK slash marketplace 22 to take your business to the next level today. Shopify.co. UK slash |
| 0:36.3 | marketplace 22. So how's that soft landing looking? More evidence today from the retail economy? From American public |
| 0:47.0 | media, this 16th. Good to have you with us. Today's lead story is |
| 1:06.2 | another tale of the remarkable resilience of the American consumer, the latest retail |
| 1:12.0 | sales report for June from the Commerce Department, says spending |
| 1:16.1 | held up better last month than many economists expected. Overall, retail sales were flat |
| 1:22.3 | compared to figures for May, which were revised higher. |
| 1:25.7 | Dig a little deeper though and the picture looks even brighter. |
| 1:29.0 | Marketplace's Sabree Benashore has that story. |
| 1:32.2 | It was the price of soy milk that did it for Ben Lee. |
| 1:35.2 | I've been collecting receipts from all these different grocery stores. |
| 1:39.0 | Lee is 34 lives in Brooklyn and this year he decided to go hard on comparison shopping. |
| 1:44.0 | At like Target, like a bottle of soy milk could be like 499 now, but at the local |
| 1:50.5 | fresh associated, you know, it's 650. |
| 1:53.7 | He says he wanted to support local small grocery stores, |
| 1:56.2 | the little guys, the mom and pops, |
| 1:57.6 | but that soy milk price tag was just a no. |
| 2:01.6 | And so I've definitely avoided the smaller grocery stores as of late. |
| 2:08.0 | Economists have wondered if this kind of increasing price sensitivity was going to result in consumers spending less. |
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