✉news BusinessRetail first seen 2 d ago, last 2 d ago, peak #36
Services take growing share of household spending
Original: Services account for a growing share of household spending
Consumers are directing a rising share of household budgets toward services rather than goods, according to retail industry observers. The trend, noted by the Washington Retail Association, points to continued strength in spending on travel, dining, entertainment and other experiences, with implications for retailers competing for discretionary income.
Why now: The shift in consumer spending from goods to services is a key indicator for retailers and the broader economy.
Evidence
- Services account for a growing share of household spending · Washington Retail Association
API: https://socialmediatrends-api.osmike.com/v1/trends/663386