Retailers jacked up prices and squeezed consumers. They might have just blinked

Retailers are lowering prices on various products as consumer spending tightens due to sustained inflation and increased living costs. This trend reflects a shift in consumer behavior, as even high-income groups seek out deals, impacting discretionary spending across the board. Companies like Ikea and Michaels have significantly reduced prices on many items, signaling a strategic move to entice shoppers and stimulate spending in a cautious economic environment.