This generation of consumers will buy even if the price goes up! US retail sales surged by $10.7 billion in October

It is learned that according to foreign media reports, under the condition of rising inflation rate, US retail sales in October increased by 10.7 billion US dollars from the previous month, an increase of 1.7%. This shows that even if the price of goods increases, American consumers' shopping enthusiasm remains unabated.

Analysts pointed out that one of the main reasons why consumers dare to spend is that during the epidemic, activities outside the home were restricted, so consumers had more savings and disposable income. Therefore, holiday sales will usher in strong growth this year.

In addition, consumers are starting their holiday shopping early due to supply chain constraints. Experts warn that as supply chain disruptions continue around the world during the holiday season, it will take longer to receive orders, so consumers are better off buying early.

Walmart and Home Depot both reported third-quarter sales that beat Wall Street expectations, giving them a strong start heading into the holiday season. For Home Depot, home furnishings sales continued to surge, with third-quarter revenue up 9.8% to $36.82 billion.

But Katie Thomas, an analyst at Kearney Consumer Research Institute, said consumer sentiment remains pessimistic, with relevant data falling to the lowest point in a decade.

Notably, retail market inflation has reached its highest level in more than 30 years, at 6.2% higher than a year ago.

Editor ✎ Xiao Zhu/

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