Big brands feeling the pinch as inflated costs drive consumers away
https://www.foxbusiness.com/media/big-brands-feeling-pinch-inflated-costs-drive-consumersConsumers are under a considerable amount of pressure thanks to years of price increases, and it's putting some of America's popular brands and chains in a tough spot.
A Wall Street Journal report published Sunday said chains like Starbucks, Wendy's and McDonald's are feeling the pinch as consumers drift away from their products as costs remain elevated.
Items that sit on store shelves are also reportedly hanging around a bit longer than they might have before the COVID-19 pandemic, as some of their loyal buyers have reached their breaking point and refuse to dish out any more of their paycheck toward yet another cumbersome grocery bill.
David Tawil, president of Prochain Capital, echoed the bad news Monday on FOX Business.
"We're seeing the consumer under a considerable amount of pressure. Credit card delinquencies are considerably higher," he told "Mornings with Maria" guest host Cheryl Casone.
People are turned off from big brands. Wokeness is also a factor.
