Consumer
Cost-of-Living Crisis Hits Sales of Food, Cars, Luxury Goods
- Shoppers are tapped out after years of inflation, higher rates
- Impact being felt from food to cars and luxury fashions
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A global consumer backtrack from post-pandemic revenge spending is starting to hit companies’ top and bottom lines.
From food producers to airlines, automakers to luxury houses, evidence of the impact is piling up. Whether it’s US grocery shoppers tapped out after a period of punishing inflation or wealthy Chinese customers postponing their next splurge, the effects are rippling across the corporate landscape.