Shoppers look to cut back on spending
UC economist tells WCPO that consumers have tapped into savings for purchases
Shoppers are looking to decrease their spending following a purchasing boom in recent years, WCPO reported.
Michael Jones, PhD, assistant professor of economics
August tends to be one of the biggest shopping seasons of the year as families buy back-to-school items and Labor Day sales begin. But retailers such as Home Depot and McDonald’s have reported slowdowns in their business, potentially signaling that consumers are cutting back on non-essential purchases.
Michael Jones, PhD, assistant professor of economics in the University of Cincinnati's Carl H. Lindner College of Business, said inflation has reduced the amount of money that individuals have to spend.
“Consumer spending is actually outpacing income,” Jones said. “So where does that increased spending come from? It has to come from savings.”
Featured image at top: A man shops for snacks. Photo/Dollar Gill via Unsplash
Impact Lives Here
The University of Cincinnati is leading public urban universities into a new era of innovation and impact. Our faculty, staff and students are saving lives, changing outcomes and bending the future in our city's direction. Next Lives Here.
Related Stories
Bidirectional link between oral, kidney health calls for patient education, access
August 4, 2026
Despite growing awareness of the connection between oral health and chronic health conditions, patient awareness and access to dental care remain limited, according to University of Cincinnati experts who recently spoke with Healio | Nephrology News & Issues.
UC Blue Ash grad goes from commencement to the corporate world
August 4, 2026
Fairouz Maayah is a UC Blue Ash College alumna who is using her education, skills, and hands-on experience to launch her career with Ernst & Young, one of the world’s largest professional services firms, where she works with businesses from around the globe.
The subtle changes in hearing you should never ignore
August 4, 2026
It’s easy to dismiss changes in hearing as minor. But as The Washington Post recently reported, these symptoms could also signal a medical emergency that many people don’t recognize — known as sudden sensorineural hearing loss, a rapid decline in hearing that occurs suddenly or over a few days.