This holiday season, America’s shopping carts are splitting into two lanes: one for luxury blenders and designer kitchen gadgets 🛒, and another for families cutting back as essentials like groceries bite into budgets. A new report highlights how rising prices are reshaping festive spending, with wealthier households driving growth while others tighten belts.
📊 According to The Wall Street Journal, households earning over $100,000 a year are splurging on premium products like $100+ blenders from brands like Oster. Meanwhile, lower-income Americans—those making under $50,000—are skipping entry-level items under $20, says Chris Peterson, CEO of Newell Brands (think Sharpie pens and Graco strollers).
💡 Why the divide? With median U.S. wages at $48,060 in 2023, essentials like childcare and groceries are squeezing budgets. Retailers are pivoting: \"We’re focusing on high-end upgrades, not discount aisles,\" Peterson told the WSJ.
Overall holiday spending rose 3.8% (Nov 1–Dec 24), per Mastercard data. But behind the headline? A ‘tale of two economies’ 🎭—one fueled by cash-flush shoppers, the other by inflation-weary households. Will the gap widen post-Christmas? Stay tuned. 🎄✨
