{"id":1488876,"date":"2024-09-09T21:40:00","date_gmt":"2024-09-10T01:40:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1488876"},"modified":"2024-09-09T21:40:00","modified_gmt":"2024-09-10T01:40:00","slug":"goldman-finds-thrift-trends-outperform-amid-consumer-slowdown","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/goldman-finds-thrift-trends-outperform-amid-consumer-slowdown\/1488876\/","title":{"rendered":"Goldman Finds “Thrift Trends Outperform” Amid Consumer Slowdown\u00a0"},"content":{"rendered":"

Goldman Finds “Thrift Trends Outperform” Amid Consumer Slowdown\u00a0<\/span><\/p>\n

\n

Goldman cited new data in a note to clients on Monday from\u00a0Placer.ai, a startup that tracks and analyzes foot traffic from mobile devices at brick-and-mortar retailers. The data revealed that consumers continue trading down to ‘off-price’ stores as elevated inflation and high interest rates financially squeeze low- and mid-tier consumers.\u00a0<\/p>\n

The team of Goldman analysts, led by\u00a0Brooke Roach and\u00a0Evan Dorschner, told clients they updated their “trackers for August store traffic on a visits per venue basis (sourced via Placer.ai) for department stores, off-price, and select specialty retailers and others within our coverage.”\u00a0<\/p>\n

“On balance, traffic trends sequentially improved in August across every retailer we track following weaker results in July,” the analysts said.\u00a0<\/p>\n

However, they pointed out, “Within this, off-price and thrift trends continue to outperform other consumer discretionary retailers, while department store and specialty retail traffic results have been fairly choppy YTD. Athletic brands (lululemon and Nike Factory Store) have underperformed.”\u00a0<\/strong><\/p>\n

Thrift is in…<\/strong><\/p>\n

<\/a><\/p>\n

What’s not in<\/strong> is paying full retail at Lululemon Athletica\u00a0and Nike stores.\u00a0<\/p>\n

<\/a><\/p>\n

And we wonder why.\u00a0<\/strong><\/p>\n

Savings rate record low; Credit card debt record high pic.twitter.com\/ggmRlCvGcW<\/a><\/p>\n

\u2014 zerohedge (@zerohedge) August 30, 2024<\/a><\/p>\n

The big takeaway from the latest earnings season in corporate America is extreme weakness from low\/mid-tier consumers.\u00a0Last month, we noted that earnings call mentions of a “consumer downturn<\/a>” soared to the highest levels since the financial crisis. Also, “trading down” mentions<\/strong> have surged in recent years as the middle class implodes under failed Bidenomics<\/strong>. The last time this happened was around GFC<\/strong>.\u00a0<\/p>\n

<\/a><\/p>\n

Welcome to America under Biden-Harris. The inflation storm has transformed a nation of consumers into Walmart and Dollar General shoppers.<\/p>\n

Goldman told clients on July 15 that Walmart had the best grocery deals<\/a>.\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 09\/09\/2024 – 17:40<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/goldman-finds-thrift-trends-outperform-amid-consumer-slowdown<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Goldman Finds “Thrift Trends Outperform” Amid Consumer Slowdown\u00a0 Goldman cited new data in a note to clients on Monday from\u00a0Placer.ai, a startup that tracks and…<\/p>\n","protected":false},"author":0,"featured_media":1488877,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1488876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6fk8","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/09\/2024-09-09_14-36-14-R91lSt.png","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1488876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1488876"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1488876\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1488877"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1488876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1488876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1488876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}