United States | News & Politics

This is the best summary I could come up with:

That’s a problem not just for individual shoppers or even big retail chains but for the whole American economy, of which about two-thirds comes from consumer spending.

A slew of retailers in recent weeks have announced price cuts as they strive to pull consumers into stores and entice them to spend money on things like new clothes, decorative items for the home and arts and crafts or hobby kits.

It’s telling that these are categories considered to be discretionary purchases, meaning things that are nice to have but maybe aren’t everyday necessities in the same vein as groceries and medicine.

Retail sales rose 0.7% in March from the prior month, a slower pace than February’s upwardly revised 0.9% gain, according to the latest government report.

“It’s more important than ever to deliver exceptional value for every customer looking to stretch their dollar,” Ashley Buchanan, CEO at Michaels, said in a statement announcing the new discounts on April 18.

Last week, restaurant and kids’ entertainment chain Chuck E. Cheese announced what it called “budget-friendly” efforts to make it a more affordable destination for families.

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