Product prices generally rise at the beginning of 2022! Americans may buy in advance and reduce purchases!

It is learned that according to data from NPD Group, as average selling prices continue to remain high, American consumers have begun to reduce their purchases of general discretionary goods. Compared with 2019, US retail sales fell by more than 8% for six consecutive weeks after the 2021 holiday shopping season, while inflation continued to remain high and prices continued to rise. Since 2022, the weekly retail sales have increased in the week before the Super Bowl and Valentine's Day (February 6 to February 12), and sales have only increased by 7%, not the double-digit percentage increase in previous years.

Marshal Cohen, chief retail industry consultant at NPD, said: "Over the past year, factors such as insufficient supply, rising prices and fewer promotions have affected consumer purchases. At the beginning of 2022, U.S. consumers' purchases are still declining. Although the willingness to consume remains, the demand for new products has weakened."

According to a survey conducted by NPD Group in February, 89% of consumers said they had noticed price increases in the past three months. Nearly half of consumers said that if prices continue to rise, they will choose to buy in advance and postpone the purchase of less necessary products to maintain their budget.

Editor ✎Estella/

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