{"id":1943268,"date":"2023-06-02T20:27:03","date_gmt":"2023-06-03T00:27:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/american-retail-giant-notices-change-in-customer-behavior-historically-signaling-recession\/"},"modified":"2023-06-02T20:28:36","modified_gmt":"2023-06-03T00:28:36","slug":"american-retail-giant-notices-change-in-customer-behavior-historically-signaling-recession","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/american-retail-giant-notices-change-in-customer-behavior-historically-signaling-recession\/","title":{"rendered":"US retail giant detects shift in customer behavior that typically indicates recession."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Famerican-retail-giant-notices-change-in-customer-behavior-historically-signaling-recession%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1943268&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Is a Recession Looming? American Retail Giant Notices Change in Customer Behavior<\/h2>\n<p>A top executive at Costco has warned that consumer behavior could be a sign of a looming recession. During a call with investors, Chief Financial Officer Richard Galanti noted that shoppers are opting for lower-priced pork or chicken instead of red meat, a trend that has been common in past recessions. He also observed that canned meat and fish are selling better than fresh meat, which is more expensive.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We are heading for a recession because people are buying THIS product <a href=\"https:\/\/t.co\/y8FhQz1xo1\">https:\/\/t.co\/y8FhQz1xo1<\/a> via <a href=\"https:\/\/t.co\/QWa0wLmmTu\">https:\/\/t.co\/QWa0wLmmTu<\/a><\/p>\n<p>\u2014 lbooth (@LoriLeeBooth) <a href=\"https:\/\/twitter.com\/LoriLeeBooth\/status\/1664750688579072002?\">June 2, 2023<\/a><\/p>\n<\/blockquote>\n<p>Galanti also offered two other indications that consumers are feeling the pinch. Firstly, the company is seeing an increase in its store brand, Kirkland, which is usually lower-priced than national brands. Secondly, the average transaction at Costco is down 4.2 percent globally and 3.5 percent in the United States.<\/p>\n<p>Galanti\u2019s comments are supported by a recent Federal Reserve report, which noted that consumers have been cutting back. \u201cNearly two-thirds of adults stopped using a product or used less because of inflation, 64 percent switched to a cheaper product, and just over one-half (51 percent) reduced their savings in response to higher prices,\u201d the report said.<\/p>\n<p>Analysts say that there are signs of economic clouds on the horizon. Ethan Harris with Bank of America said, \u201cI\u2019d be surprised if there aren\u2019t more layoffs,\u201d adding that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-to-leapfrog-u-s-as-worlds-biggest-economy-by-2028-think-tank\/\" title=\"China to leapfrog U.S. as world\u2019s biggest economy by 2028 \u2013 think tank\">rising interest rates<\/a> could trigger the move. JPMorgan Chief Operating Officer Daniel Pinto also sees warning signs, stating that \u201cthere will be a recession at some point, but I don\u2019t see, for the moment, a crisis. It\u2019s just a slowdown in the economic cycle to deal with inflation.\u201d<\/p>\n<p>David Trainer, CEO of New Constructs, believes that Walmart\u2019s sales will be the best predictor of a recession. \u201cWalmart is a bellwether for consumer spending and health, which is not in dire straits, but it is weakening,\u201d Trainer said. He added: \u201cWalmart\u2019s earnings add to the idea that a recession is not fully here yet but is likely coming, albeit more slowly and less severe than most expect.\u201d<\/p>\n<h3>Conclusion<\/h3>\n<p>As consumer behavior shifts towards <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mexico-taps-private-sector-again-in-effort-to-keep-food-prices-down\/\" title=\"Mexico taps private sector again in effort to keep food prices down\">lower-priced products<\/a>, and with Walmart\u2019s sales weakening, there are signs that a recession may be on the horizon. While analysts predict that it may not be as severe as previous recessions, it\u2019s important to be aware of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/american-retail-giant-notices-change-in-customer-behavior-historically-signaling-recession\/\" title=\"US retail giant detects shift in customer behavior that typically indicates recession.\">potential economic challenges ahead<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Costco&#8217;s CFO, Richard Galanti, warns that consumer behavior may indicate an upcoming recession. He notes that shoppers are opting for cheaper pork or chicken instead of red meat. This trend has been observed before and could be a sign of economic uncertainty.<\/p>\n","protected":false},"author":661,"featured_media":1943269,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[4385,8566,10000,7039,10069,6581,6777,28198],"class_list":["post-1943268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily","tag-behavior","tag-customer","tag-detects","tag-giant","tag-recession","tag-retail","tag-shift","tag-typically"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1943268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1943268"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1943268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1943269"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1943268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1943268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1943268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}