Is The American Consumer Tapped Out?

Authored by Jesse Felder via,

Inflation has clearly made an impact on both the psyches…

…and the pocketbooks of American consumers over the past few years.

Now a deteriorating employment environment could do further damage.

That is, in fact, the message coming out of major retailers lately

…and adds to the growing pile of evidence suggesting that an economic landing is likely to be anything but “soft”

…and the lenders know it – “Reported average rejection rates for credit cards, auto loan, and mortgage loan refinance applications in 2023 exceeded those in 2022,” the New York Fed said.

And in case you need one more sign that the consumer is really tapped out…

Buy Now Pay Later usage hit an all-time high on Cyber Monday, contributing $940 million in online spending, up 42.5% from last year, according to Adobe Analytics.

You will find more infographics at Statista

The research firm says people are using BNPL services for larger carts.

Adobe expects November to be the biggest month on record for BNPL services.


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