1. Shopper & Customer

Consumers cut back in some places and splurge in others

High prices are prompting consumers to reduce or trade down on many everyday goods they purchase. For some this allows them to splurge on other items. “I may be wearing scratchy Amazon pajamas to bed, but at least my ($600 Italian linen) sheets are lovely,” said Davina Pike Ogilvie, a mother of two from Brooklyn, NY.

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