Americans are spending more money at restaurants than on groceries — and the gap has been widening.
By the numbers: People spent 20.7% more at restaurants than they spent on groceries in 2022 — and that figure rose to 29.5% in the first two months of the year, according to Commerce Department data compiled by JLL.
The era of free online returns is starting to show cracks.
Why it matters: The pandemic-induced online shopping bonanza forced retailers to adopt lenient return policies that cost them dearly. Now free returns are something consumers may have to learn to live without.
Hundreds of readers responded to Axios' informal survey on rising stamp prices. Many say they plan to stock up on Forever stamps before the proposed 3-cent price increase.
Why it matters: Some snail mail holdouts are increasingly opting to pay bills online. Others say they're reducing the number of greeting cards and letters they send.
American consumers arepulling back — and that is the clearest sign yet that the rip-roaring economy of the past couple of years may be giving way to something else.
Why it matters: For all of the economic ups and downs within the past year, the consumer has largely been a consistent bright spot. But higher interest rates, persistent inflation and shrinking excess savings may finally be beginning to take hold and forcing consumers to cut back.
The SEC is considering reopening the comment period for its proposal last year to re-define the definition of "exchange."
Why it matters: The small proposed change would have sweeping implications for traditional financial firms and crypto — and specifically decentralized finance (DeFi).
Consumers pulled back on spending at retail stores for the second straight month, causing retail sales to fall 1% in March, the Commerce Department said on Friday.
Why it matters: The strong consumer spending that has long underpinned the economy is fading.
Hollywood writers will be voting until Monday to authorize the first strike in 15 years, setting up a contentious two weeks to get a new labor deal with the studios.
Why it matters: A work stoppage would cripple Hollywood at the time when the business model is undergoing a messy transition to the streaming era.
Former President Trump "spent nearly seven hours" defending his family business during his second deposition for the New York attorney general's $250 million lawsuit against him, his lawyers said Thursday evening.
Why it matters: It's the first time the former president has spoken about the Trump Organization in the civil investigation that accuses him, his business and his elder children Donald Trump Jr., Eric Trump and Ivanka Trump of fraud.
Most people hate giving — or getting — tough feedback about work, irritating behavior or grating disagreements, Jim VandeHei writes.
Why it matters: Try a new approach to defuse the tension and avert snap reactions. Put it in writing first.
Truth is, most people get instantly defensive or uncomfortable if told in person, without advance notice, they are doing something wrong. This makes it impossible for them to hear you fully.
