Economy

Companies losing pricing power after years of unbridled spending

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Pedestrians carrying Nike and Allbirds shopping bags in the SoHo neighborhood of New York on Oct. 24, 2021.

Nina Westervelt | Bloomberg | Getty Images

After years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power.

Shipping giant FedEx last week said customers have shied away from speedier, pricier shipping options. Airlines including Southwest discounted off-peak fares in the fall. The likes of Target and Cheerios maker General Mills have cut their sales outlooks as more consumers watch their budgets.

It’s a shift from the recent years when consumers spent at a breakneck pace — and at high…



Source cnbc.com

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