Peter St Onge Podcast
Ep 97 Weekly Roundup: What’s for Christmas? Food
Dec 9, 2024
This week dives into the evolving shopping habits influenced by economic pressures, revealing younger generations' struggles. It explores international reactions from Canada and the EU to U.S. trade threats, highlighting America's leverage in negotiations. A critical look at Canada's economy under Trudeau shows rising inflation and declining GDP, compounded by regulatory burdens that stymie job growth. The conversation urges a reevaluation of regulatory policies to spark entrepreneurship and create jobs.
20:40
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Quick takeaways
- Americans are prioritizing essential household items over luxuries during Black Friday due to rising living costs and inflation.
- The U.S. has untapped potential in leveraging tariffs to enhance trade relations and address international issues effectively.
Deep dives
Black Friday Spending Trends
Americans are increasingly prioritizing essential household items over traditional luxuries during Black Friday shopping. A significant number of consumers are spending on cleaning supplies, groceries, and basic toiletries rather than big-ticket items like electronics. The rising costs of living, spurred by inflation and stagnant wages, are influencing this shift, with a notable percentage of families facing mortgage and housing costs that consume a large portion of their income. Consequently, many Black Friday shoppers are financing their purchases, with an alarming rise in 'buy now, pay later' schemes, reflecting a growing dependence on credit amid economic constraints.
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