Inflation has taken a big toll on consumers, and despite signs of a slowdown customers are stretching their budgets in every way they can. Credit card debt is at an all time high, and the Feds have announced they will not lower interest rates until they feel confident that the economy is slowing down and prices start to come down. Target, Amazon, Walmart, and Aldi have rolled out prices cuts this month to attract customers back to their stores. Large retailers know that customers want lower prices and better deals so they are lowering their prices and adjusting their profit forecast to bring people back to their stores.
Smaller retailers are also looking for ways to stay competitive by offering new payment options, and cutting their costs in order to meet customers demands. As the economy continues to be a major challenge for customers and small businesses alike, we have to look for creative ways to cut costs, and meet the demand of customers.
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