Despite economic hurdles — such as bottlenecked supply chains and higher-than-normal inflation — consumers’ appetite to spend is increasing. According to the U.S. Census Bureau’s July 2022 Advance Monthly Sales for Retail Trade and Food Services report, retail sales and store visits were both up, demonstrating that shoppers are shopping again. From increased store visits and online spending to the impact of industrywide pressures, retailers need to pay more attention than ever to truly understand changing consumer behaviors across segments. Keep reading this Forbes piece to delve deeper into the July report.
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