news/DLTR/2023.02.10/Inflation not cutting hard into consumer spend.txt

Inflation and the potential talk of a recession isn't stopping most U.S. consumers from spending this year as 67% plan to spend either the same or more this year as they did in 2022 on retail purchases.That's a prime finding from a survey commissioned by DailyPay and discount retailer Dollar Tree that was conducted online by The Harris Poll that polled 1,000 U.S. adults.More than two in five, 44%, are likely to prioritize shopping for bargains in store, compared to 2022, according to a press release on the findings, and 73% plan to shop the same or more in-person this year.The survey also revealed preferences regarding purchasing particular items in-store versus online:"It's encouraging to see that Americans' spending plans are trending upward with only a third planning to spend less this year despite these times of financial uncertainty," Kate Cheesman, VP, customer success, DailyPay, said in the release."With more people shopping in-store, retailers will be prioritizing retaining their top talent to maximize their in-store experience."Dollar Tree, which operates more than 16,000 stores across the Family Dollar and Dollar Tree banners, is seeing similar trends to those revealed in the survey."Our customers are incredibly savvy and taking advantage of our value-price model to stretch their money even further during these uncertain economic times," Mike Creedon, Dollar Tree COO, said in the release. "While discretionary purchases remained strong, we're also seeing an increase in consumables in Dollar Tree and Family Dollar stores."Copyright © 2023 Networld Media. All rights reserved., source Industry News