Diverging Household Income Divides Retail Landscape
The U.S. retail landscape is increasingly divided along income lines due to divergent economic conditions between the wealthy and lower-income households, according to an Accenture report titled 'The Bifurcated U.S. Consumer.' The wealthiest 20% continue spending on premium experiences while the bottom 40% face financial strain from high credit card interest rates, rising fuel prices, and perceived food inflation.
Topics: consumer spending economic report income inequality retail