For retailers like Kroger, Walmart and Dollar General, the decline in SNAP dollars will put pressure on discretionary sales.
, have shared cautious outlooks for the year, saying shoppers across incomes have become more careful about spending on items such as clothing or consumer electronics as they pay more for necessities such as housing and food.up 10.2% year-over-year as of February,"You still have to feed the same number of mouths, but you have to make choices," said Karen Short, a retail analyst for Credit Suisse.The stretch has made it impossible for some to afford even basic items.
"We knew these [extra SNAP funds] were going away and they were going to be sunsetted," she said. "But what we didn't know is that we were going to have the impact of inflation to deal with on top of this."So far, retail sales in the first two months of the year have proven resilient, even as consumers contend with inflation and follow a stimulus-fueled boom in spending in the early years of the pandemic.
"We're hopeful that everybody will work together to continue or find additional money," he said on the company's earnings call with investors earlier this month. "But as you know, because of inflation, there's a lot of people whose budget is under strain."
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