Shoppers browse at Wayfair's first store in Chicago
Slowing consumer spending is showing up in earnings reports from McDonald's to Mondelez.
  • American shoppers are spending less, and that's a setback for companies from Nestlé to Southwest.
  • People had saved up during the pandemic, but those savings are now depleted.
  • Some companies are responding by offering value meals and cutting prices.

Shoppers are slowing down spending on everything from burgers to dishwashers, and that's bad news for a growing number of companies.