Louisiana Shoppers Turning to Thrift Stores to Save Money

SHREVEPORT, LA - Inflations is taking a toll on consumers across Louisiana. Many are trying to find ways to pinch pennies. A new report says many consumers made dramatic changes to spending as a way to save money.

What Have We Stopped Buying?

The report from PYMNTS shows we are cutting back on buying non essential items. This study also shows a major increase in buying at thrift stores and second hand stores. 43% of consumers say they bought at least one item from a secondhand store last year.

Who Is Buying at Thrift Stores?

This data was quite surprising. The report shows high earners are the top group turning to second hand stores. The study says you can save as much as 35% by buying something that has already been used.

Will The Financial Picture in 2024 Get Better?

Experts do see a little light at the end of the tunnel. They are expecting sales to pick up for big ticket items like cars and houses. Nearly half of all drivers claim they are at least considering buying a car. That's according to a Jerry survey. Last year, only 23% of motorists talking about replacing their car.

Data from Bright MLS also has some good news on the real estate front. The numbers show home sales could go up by 12.% this year. But the big factor on this will be interest rates and the availability of inventory.

One of the biggest hurdles facing consumers is debt. Several reports show we have been charging items on credit cards over the past two years and now many Americans are struggling to pay off that debt.