As we approach the busy spring and summer retail seasons, there is ample cause for concern given recent sales trends and historically low consumer sentiment. Headwinds are gathering despite robust employment numbers and an improving inflation trend. Retail executives are under increasing pressure to mitigate the impact of increased caution among consumers, driven by inflation, continued increases in interest rates, and the potential for a recession in the U.S. economy. The current environment presents new patterns of consumer spending, and companies must react.
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