Summary
In a year marked by inflation, interest rate hikes, and mounting consumer debt, US consumers tightened their purse strings and shifted their spending from discretionary to essential items. US retailers with a focus on selling discretionary and high-ticket items are feeling the brunt of this consumer pullback. In 2023, sales growth at 30 of the leading 67 US retailers declined, adding pressure to retailer profitability. In all, combined sales of the top 67 US retailers grew just 3.3%, with median margins flat at 5.0%. This report analyzes offline and online sales growth at the leading 67 US retailers, with a sector-by-sector comparison of growth.
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