February 5, 2026
NRF Blog: Is retail spending really K-shaped?

New analysis from the Consumer Insights Studio shows that while top‑income consumers are driving robust gains, lower‑ and middle‑income households are seeing slowed or negative discretionary spending. The result? A retail landscape that looks increasingly K‑shaped, writes NRF's Mark Mathews, CBE, Chief Economist.

Read the full blog post on NRF.com.