팬데믹 이후 소비자 지출 트렌드

What happened: Amazon's Q1 results indicated a rebound in consumer spending. Walmart's e-commerce sales surged 24% YoY, while TJX maintained its sales growth streak. Conversely, China's 618 shopping festival saw a sharp slowdown in online sales growth, up just 4% YoY. U.S. retail had a robust Q1, but the real test lies ahead as tax refunds and buy now, pay later usage decline.

Market impact: Traditional retailers like Walmart and TJX, along with e-commerce giants like Amazon, are poised to benefit from the post-pandemic spending rebound in the U.S. Meanwhile, Chinese consumer-facing companies may face headwinds due to the persistent slowdown in consumer spending. The retail sector's performance in the U.S. will be a key indicator for the broader consumer health and economic recovery.

What to watch next: TJX's Q2 earnings (June 23) will provide insights into off-price retail's resilience. Amazon's Prime Day (June 21-22) will serve as a barometer for consumer spending and e-commerce demand. Additionally, U.S. retail sales data for May (due June 16) will offer a more recent snapshot of consumer spending trends.