Consumer confidence has fallen to the lowest level in nearly a decade. Is the US market still okay?

The U.S. Department of Commerce released a set of data on the 17th, which showed that after the retail sales in June were revised upward by 0.7%, the total amount of snacks in the United States in July fell by 1.1%, which was more than previously expected. And some economists predict that the growth rate of consumer spending will also drop sharply compared with the second quarter. In this set of data, in addition to the automobile industry, e-commerce sales are also an important factor affecting the decline in total. This can't help but make merchants worry about the U.S. consumer market.

Due to the resurgence of the epidemic in the United States in the past two months, the market environment in the United States has deteriorated. According to a poll, its consumer confidence index was 70.2 in early August, falling to the lowest level in nearly 10 years, and consumer spending was not much less than before. 80% of Americans have felt a significant increase in prices, which has reduced their willingness to consume.

Just like the previous epidemic period, although the domestic consumer market in the United States is not good, the shopping conditions restricted by the epidemic will make them continue to maintain online shopping . But it is worth noting that the impact on the logistics industry caused by the epidemic will make the arrival rate and delivery time of goods sold to the US market unstable , which may cause buyers' consumption expectations and shopping willingness to decline. But for now, the overall development of the online shopping market is relatively stable, and the decline in the US consumer confidence index has not had much impact on sellers .

According to a previous report by Bloomberg, the larger-than-expected decline in July reflects that inflation in the United States is beginning to rise, and consumers may become more sensitive to prices. Therefore, merchants must have accurate control over pricing and product selection. The restrictions on home conditions caused by the epidemic have made consumers more inclined to buy household items, protective materials, pet products, children's products, indoor fitness equipment, etc. Sellers can make appropriate adjustments in the above categories and ensure that the quality of the products is not infringing when selling them to the outside world.

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US Market