US ad spend dropped 8.0% YoY in February, according to a MediaPost analysis of Standard Media Index’s US Ad Market Tracker. That marks eight months of consecutive YoY decline as part of a trend that began in July 2022.

China faces a difficult road to recovery: Despite some encouraging signs of recovering consumer demand, falling exports and a property slump could weigh on confidence.

Macy's and Best Buy are seeing a drop in sales of nonessential goods: Economic uncertainty, inflation force consumers to focusing on necessities like groceries.

Target expects a tough year ahead: But there are several reasons why it may navigate slowing retail sales growth better than some of its competitors.

Macy’s, Neiman Marcus, Hudson’s Bay rethink their strategies as department store sales fall: Tactics include using data science to predict trends and improve pricing strategy, doubling down on luxury, and maximizing store appeal with experiential concepts.

Consumers pulled back on spending in December: Even as inflation eases, consumers’ diminished spending power is forcing them to make choices about what they buy.

Consumers pull back on discretionary spending: While that’s an ominous sign for retailers such as Macy’s and lululemon, there are still some glimmers of hope on the horizon.

Which retailers and brands won (or lost) in 2022? Retailers that catered to the budget or luxury ends of the price spectrum did well, while those that dealt in discretionary categories like apparel and electronics saw the biggest drop-off in consumer spending.

US retail sales fell 0.6% in November: But spending on services like restaurants and travel continues to grow as shoppers prioritize experiences over physical goods.

Things are looking up for Walmart: The retailer made headway on its inventory glut and gained grocery share in Q3, but discretionary categories struggled.

An inflation tourniquet: The Inflation Reduction Act simultaneously tackles climate change and inflation. Providing tax breaks on clean energy could boost consumer spending.

The pandemic has hit lower-income households especially hard. But its effects are being felt across income brackets, and not always in predictable ways—for instance, upper-income consumers are making the biggest spending cuts.