Not All the News Is Bad
We’re in the thick of summer. More consumers are thinking of spending their days on the beach or in the mountains than on your sales floor. The economic recovery has stalled. But here’s something to cheer you up: U.S. consumers are actually spending more on consumer electronics.
The good news came earlier this week courtesy of the Commerce Department. Durable goods like major appliances (down 3.6 percent) and furniture (down 11 percent) took a hit, but spending on TVs, video gear, computers, cameras and other tech gadgets increased almost 2 percent (for a total of $156 billion) during the first half of the year, according to the data.
In its report on the numbers, the Wall Street Journal wrote that the trend signals a significant shift in U.S. consumer spending habits: