Basic Needs

Inflation (both natural and driven by corporations looking to increase profits) is starting to have a significant impact on consumer spending, even when it comes to the basics. “Despite surging inflation, shoppers kept spending thanks to income gains and government stimulus. But those benefits are waning, and now Americans are skimping, even on everyday items such as toilet paper and toothpaste.” Bloomberg (Gift Article): Americans Seeking Cheaper Everyday Essentials Threaten Corporate Growth.

+ There are exceptions: Chocolate prices keep rising, but that’s not stopping Americans from buying. “Buying is proving resilient thanks to a phenomenon known as ‘revenge living.’ … Consumers are willing to spend on areas of their life that were impacted in the pandemic, like travel and dining. And while lockdowns obviously didn’t make it impossible to eat candy bars at home, the everyday luxury is still getting swept up in the trend.” (During the summer, it’s fun to freeze your candy bars, because revenge living is a dish best served cold.)