The past two years saw economic turbulence, including high inflation and multiple Federal Reserve rate hikes. Surprisingly, consumers continued spending, some benefitting from wage increases while others relied on savings or accumulated debt. Economists anticipate consumption rates to moderate, citing moderating inflation and job market stability. However, retailers and analysts express uncertainty, especially regarding discretionary spending. Inflation concerns persist among consumers, influencing their behavior and creating challenges for retailers. Amid an uncertain economic outlook for 2024, prioritizing trust could foster profitable loyalty.

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