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Retail landscape in focus with Motley Fool Senior Analyst Asit Sharma and Contributor Toby Bordelon. Americans changing spending priorities and the tech replacement cycle impact on Best Buy. Slowdown for Home Depot and Lowes. Retail trends to watch in 2024.
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Quick takeaways
- Consumer spending habits in 2024 are expected to change due to signs of spending exhaustion and hesitancy, but long-term outlook for the US economy remains positive.
- Low inventory levels of low-end chips suggest a potential uptick in demand for electronics in 2024, benefiting retailers like Best Buy.
Deep dives
Consumer Spending Habits in 2024
Consumer spending habits in 2024 are expected to change as signs of spending exhaustion and hesitancy emerge. Factors such as the restart of student loan payments and higher interest rates may lead to a decrease in consumer spending. However, the long-term outlook for the US economy remains positive, with the growth and tightness of the job market contributing to eventual spending resumption in late 2024 or 2025.
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