Consumers look resilient on the surface, but $4 gas was a tipping point and Costco members are filling up more often in case prices go even higher
Rising gas prices are beginning to impact consumer spending habits, even as overall spending remains resilient on the surface. Shoppers are altering their routines, such as filling up their gas tanks more frequently at warehouse clubs like Costco to manage costs. Retail executives note that while many consumers are still spending, lower-income customers are making noticeable cutbacks, suggesting broader retrenchment may occur as tax refunds diminish. AI
