Jennifer Williams
speaker
37 appearances
1 recordings
1 series
first heard Apr 2024
last heard Apr 2024
Jennifer Williams’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Money Is Tight, but Americans Are Still Revenge Spending · 3 Apr 2024
podcast
They're still spending on travel.
They're going out to eat, though that has come down slightly.
They're still buying clothing and they're trading down a bit or moderating their purchases in the grocery store to offset those experiential purchases.
So the idea is that coming out of the pandemic, consumers had a pent up desire to be out and to travel and to go out to eat.
They had saved money during the pandemic.
And so the concept of revenge spending is sort of this idea that with money to spend and the desire to be out, you're doing those things versus grocery shopping, buying the essentials.
They're still spending on travel.
They're going out to eat, though that has come down slightly in the U.S.
They're still buying clothing, from what I'm hearing from CFOs.
And they're trading down a bit or moderating their purchases in the grocery store to offset those experiential purchases.
Yes.
So last summer, there was the so-called Summer of Taylor Swift, where people were spending exorbitant amounts of money on concert tickets to see her and Beyonce and others.
And economists are wondering if that will continue into this summer.
And for some of them, they think that consumers will do that again.
They're starting to pull back around the edges, but they're still looking for ways to treat themselves.
It's just not all the time.
And the thinking is that as we got used to the idea of spending on experiences, consumers are trying to keep that up, whether that's using credit or continuing to spend down their savings even more.
There's still this sense that you could lose the ability to have an experience like we did during the pandemic.
And so they're still spending on those things.
It's been a good thing for some retailers.
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