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macy s isn t the only company offering warning signs about the health of consumers. what are other companies saying? there are a lot of interesting and somewhat troublesome clues offered by retailers about the state of consumers. costco said that it saw shoppers buying less premium meat, sirloin steaks, that sort of stuff, and switching to cheaper pork, canned tuna. that s potentially a recession sign. we also see fewer home renovation projects at home depot and lowe s. then dollar general customers are also particularly strained right now. typical dollar general customer makes under $40,000 a year. the company said they re really stretched right now and they re pulling back on discretionary purchases. i thought this was really interesting. a consumer watchdog is issuing a warning to people who use popular payment apps like venmo,
year ago. so why is this happening? people are fewer big ticket purchases, expensive purchases like grills and patio furniture. consumers are taking on smaller home renovation projects. so home depot is projecting the first sales declan, annual sales decline since 2009. do you think this is very different than, say, a bed bath & beyond scenario. but also, a lot of the things from there, you could order online, et cetera. a lot of things from home depot or lowe s you have to go buy the lumber, feel it, huge items, right? totally. home depot has been one of the better performing brick-and-mortar stores. this is not a bed bath & beyond story or the other retail bankruptcies. people still do want to shop in stores. we saw retail sales last month up 0.4% from the month prior. but people are changing how they re spending. we re still shopping online, buying from amazon.