US inflation is skyrocketing! These products are not affected

The US inflation rate continues to soar , setting a new record high!

On July 13, according to data released by the U.S. Department of Labor, the U.S. inflation rate in June rose 9.1% year-on-year , exceeding market expectations of 8.8% and setting a nearly 40-year high.

Prices are generally rising across the United States , with gasoline prices rising far more than any other category of goods, up 11.2% from last month .

In addition, food costs rose 10.4% year-on-year , the highest increase in nearly 40 years .

According to Adobe's digital index , product prices on US e-commerce platforms fell 1% in June compared to May, marking the third consecutive month of decline .

But prices increased in 11 of the 18 categories Adobe tracks , with groceries seeing the biggest increase , up 15.1% year-over-year .

Specifically, the cost of facial tissue increased by 32% , frozen meat increased by 28% , household batteries increased by 27% , garbage bags increased by 21% , water increased by 20%, and milk and juice increased by 17% .

U.S. consumer confidence hit a record low in June amid growing concerns about inflation , according to a survey released by the University of Michigan .

The rising prices caused by inflation have had a serious impact on many American families , and consumer behavior has begun to change.

According to market research firm NPD Group   According to research data from the , more and more American consumers are starting to buy cheaper alternatives while reducing consumption of non- essential items such as furniture, home furnishings and kitchen appliances .

However, this does not mean that "low price" is the primary criterion when they make consumption decisions. Inflation has made American consumers more picky and more concerned about the cost performance of products.

It is worth noting that due to the impact of inflation, more and more consumers are turning to e-commerce platforms to buy low-priced products.

In June , U.S. consumers spent $74.1 billion on online shopping, up about 1% year-on-year. So far, total online shopping spending by U.S. consumers is $451.7 billion, up 7.5% year-on-year . Although the growth rate of sales in the U.S. e-commerce market has slowed down, it is still on an upward trend overall.

Although inflation has caused most Americans to start spending less, high-income people continue to spend on luxury goods .

Since 2022, consumption of luxury goods in the US market has increased by 14 % year-on-year .

High-income groups tend to buy luxury cosmetics , branded fitness products , branded shoes, accessories and handbags , and the demand for related products is very high.

Overall, the high inflation environment is a market opportunity for cross-border sellers. While developing cost-effective products, they can also turn their attention to groups with high average order values ​​and develop products that meet their consumption needs.

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