The article discusses the current state of consumer spending in a post-pandemic economy, highlighting a significant divide between high-income and lower-income groups. Higher-income households continue to spend freely, buoyed by rising stock prices and a strong housing market, while lower-income families are tightening their belts amid inflation and rising living costs. Many companies have noticed this split, with reports that sales from wealthier customers significantly contribute to their growth, highlighting a growing dependency on high-income consumers to sustain economic momentum.
In the immediate postpandemic era, consumers were spending significantly due to pent-up demand, but recent trends show a divide between high-income and lower-income spenders.
Higher-income families are now doing more than their share of spending, helping keep the economy running, while lower-income households have pulled back significantly.
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