People aren't spending like they used to and it's forcing companies like Nike and Walgreens to make drastic changes

Tech Insider : Economy
Discount signs
American consumers are getting tighter with their wallets and pickier about deals.

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Lowe's average customer is a white baby boomer who spent $809 there last year

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lowe's
Lowe's shoppers tends to skew more rural than their more urban counterparts at Home Depot.

AP Photo/LM Otero

Some shoppers are spending big money on 'craft ice' fridges and high-tech washing machines, Lowe's exec says

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Appliances for sale at Lowe's.
Appliances for sale at Lowe's.

Dominick Reuter/Business Insider

I visited Home Depot and Lowe's to see how the home improvement stores stack up for both pros and DIYers

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Home Depot and Lowe's locations in Milwaukee, Wisconsin.
Home Depot and Lowe's locations in Milwaukee, Wisconsin.

Dominick Reuter/Business Insider

I shopped at Home Depot and Lowe's for holiday decorations, and one store made me feel like I'd stepped into a winter wonderland

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Holiday decorations at a Lowe's store.
A view of the holiday decor available at Lowe's this year.

Amanda Krause/Business Insider

Costco, Lowe's, Best Buy, and Tractor Supply are winning the battle against retail theft in a strikingly similar way

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A sales associate processes the purchase of a hard drive at a Best Buy store after doors opened at 5 a.m. on Black Friday, Nov. 26, 2021, in Lone Tree, Colo.
A sales associate processes a purchase at a Best Buy store in Colorado. Retailers say adequate staffing is one way to fight retail theft.

Lowe's CEO says the 'greatest deterrent' for retail theft is hiring and training workers

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Lowe's employee
Earlier this year, Ellison said Lowe's spending on employee compensation had increased by $3 billion since 2018, and would grow by another $1 billion over the next three years.

Jay LaPrete/AP Images

The main reasons retailers are posting weaker profits this year have nothing to do with theft

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A man walks past shelves of items locked behind a case in a grocery store.
The National Retail Federation estimates shrink topped $94 billion in 2021, which would put this year's figure well north of $100 billion if the rate remains the same or increases.

Jahi Chikwendiu/The Washington Post via Getty Images

Macy's, Dick's, and Lowe's are sounding alarms on US shoppers

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Lowe's
A shift in consumer spending is challenging retailers that sell discretionary merchandise like apparel and home goods.

Reuters/Mohammad Khursheed

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