Consumers are giving up a bag of Doritos and a pack of cigarettes as convenience stores in the United States will drop. This is another sign for Americans who are dealing with changing tariff policies, fear of scattered scatters and potential recession.
U.S. convenience store sales fell 4.3% in the year ended February 23, according to Chicago-based market research firm Circana, which was first reported by The Wall Street Journal. Refrigerated and frozen products, tobacco and general food sales were the highest and largest drop.
Sales lists for working class and middle-class families are Pull back expenses Overall, consumer sentiment is being attributed in part to President Donald Trump’s Ongoing trade war and Rapidly changing tariff policies. Senior CEOs such as Jamie Dimon of JP Morgan are Becoming more and more worried Regarding the impact of inflation and recession on the president’s evolving policies.
There are other factors at play, such as high prices, WSJ Report. Although The cost is now downit has been promoted, which means people spend less on quick snacks or drinking in convenience stores at gas stations. Some consumers are looking for healthier options.
It’s not just a convenience item. Consumers say they plan to back off in multiple areas, According to McKinsey & Co.including clothing, footwear and electronics. Usually, Americans have Reduce their checking and savings Absorb higher prices.
That said, Jeff Lenard, vice president of media and strategic communications for convenience stores nationwide, said some lost consumer currency stores are experiencing losses in packaged food, which are prepared food in stores, so not everyone is missing. Still, he said consumer sentiment is not strong and stores “really need to fight for customers.”
This story was originally fortune.com
