As consumer confidence rebounds, these categories are making big money in the United States!

Recently, market research company Insider   Intelligence's report shows that with the recovery of consumer confidence index and the decline in inflation rate , sales in the US holiday season will remain strong this year.

The University of Michigan's consumer confidence index showed that the U.S. consumer confidence index was 58.2 in August, up from 51.5 in July .

Data from the U.S. Department of Commerce also showed that U.S. consumer spending increased by 0.2% in July compared with June.

At the same time, according to the Federal Reserve's preferred inflation indicator , the US CPI (consumer price index) fell by 0.1% in July compared with June, affected by falling fuel prices . This is the first decline in the United States since the COVID-19 outbreak.

Among them, Adobe   After 14 consecutive months of sharp price increases, global clothing prices fell 1% year-on-year in July, following a 6.3% drop in June, according to Analytics .

All the above data indicate that Americans' consumer confidence is gradually recovering and the market may pick up.

In addition, many retailers of different categories in the United States have also put forward new expectations for revenue in the second half of the year.

U.S. furniture retailer Arhaus expects its full-year revenue to increase to $1.173 billion to $1.193 billion, with full-year net income expected to reach $92 million to $98 million.

Sporting goods retailers Hibbett and Dick's Sporting Goods also raised their full-year earnings forecasts.

So which categories will be favored by the crisis-ridden US market this year?

According to the survey, in terms of categories, consumers mainly buy groceries ( 51% ), and household necessities ( 24%) have also become a key consumption item .

As prices of non- essential items in the U.S. market have fallen , consumers' desire to spend on this category has gradually recovered, with many consumers buying clothing and shoes ( 25%) .

In addition, 26% of consumers plan to purchase party-related supplies such as barbecue tools , 8% of consumers plan to purchase decorations, and 6% of consumers plan to purchase sporting goods or outdoor equipment .

As the back-to-school season arrives and consumers return to school and the office, products such as portable water bottles and coloring art supplies have become some of the fastest-growing categories in the second half of this year in the United States.

Currently, in order to reduce spending, comparing prices ( 45%) , stockpiling discounted goods ( 31%) , not buying non-essential items ( 29%) , and waiting for peak season promotions ( 18%) have become consumption trends among Americans.

Although multiple data show that the market is warming up, retailers' inventory crisis has not yet been resolved. It is expected that promotional activities such as price cuts and discounts will continue in the US market. At that time, sellers may have to pay a lot of money to grab market share and earn sales.

With important holidays in Europe and America in the second half of the year, the sales peak season that sellers have been looking forward to is coming. Although it is impossible to judge whether this year will be as explosive as in previous years, it is better than the bleak first half of the year. Therefore, sellers should make all preparations and wait for the peak sales period this year!

USA

Peak Season