5 takeaways from the latest markdowns by Walmart, McDonald’s, Best Buy and others.
Consumers have been waiting for lower prices for what seems like forever. And now costs are finally going down.
Those markdowns, and the consumer spending slowdown that prompted them, mark a turning point in the post-lockdown economy,New inflation data on Wednesday, the second day of a Fast-food chains are also joining the fray. McDonald’s, Burger King and KFC have all announced new $5 meal options to entice budget-minded consumers.
That means retailers are feeling the pinch. After a period of record-high sales and profits, many are struggling to keep customers and attract new ones. Their answer: Lowering prices.Not quite. Most of the announced price cuts are on goods, such as cars, furniture, appliances, sporting goods and dairy products - all of which have already gotten cheaper in the past year, according to federal inflation data.
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