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PMG Venture Group executive director Kristin Bentz gives her outlook on consumer spending.
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Sir our next guest does not surprised by today's data says it's gonna get worse -- -- worst thing you think.
Worse -- not award for joining -- Kristen -- -- adventure group executive director.
Christine good to see you know there -- ETF hit 52 week high today -- some -- the news was good.
You know they're they're few and far between obviously be luxury consumer is -- feeling very confident you know contrary to your last guest I don't believe.
The consumers are confident and I don't think that -- are feeling better about their situation.
Paychecks -- didn't reflect.
That it will increase really right because -- get paid once a month so if you indicated -- the end of January we're really feel on the Pena where you.
Yeah exactly February's not gonna be a fun month so -- you know buckle up for that as as consumers start realizing hey you know what's Bert -- my paycheck -- And they're gonna start reacting in kind and not gonna get what we -- hearing a lot of bad taste as it -- this ticket -- weekly we are feeling the pain already.
Use in your notes you are seeing the actual amount of money being spent increase while the transactions though are going down explain that.
Exactly so people are you know shopping less frequently more closer to meet.
You know so they're they're taking their time to look at what's this seeing -- obviously out they're spending money -- -- to really watch and see what they're spending it on.
OK so let's talk about what you like in this -- -- how we play this retail market that's -- everybody wants in now.
It it's going to get worse.
Where should investors should I say -- from the sector altogether.
-- the consumer is not gonna lead this comeback it's actually debt ridden -- if you can even call it that so it's going to be very slow.
Painful process how do you how do you play obviously the luxury end is doing great and what I'm talking outlooks for any absolute locks -- name's Michael Michael course.
Like -- -- is that just blew the doors off yesterday on the numbers true true luxury.
They really can't be found just on every corner.
Something like that definitely follow the low end consumer.
Wal-Mart Family Dollar people who shopping at dollar stores now as a de facto grocery store.
They're stopping by every day CDS if you look in New York they've expanded the floor plan to include.
More fresh -- And that's -- and that's how people are living in shopping so you really have to follow that low and consumers well -- -- -- gets worse for the and I mean as the year goes on.
Or do you think February march we -- -- panic mode we stop sending spending we come back again now once we can adjust our budgets.
-- I don't think it's going to be pretty I think it's going to be painful.
-- obviously look at the weather that we've had you know -- the luxury spend for consumers in New York is 20% of -- luxury goods spending runs from the tristate area.
You know there's gonna be debt -- -- -- a chance to buy on that debt.
Right not unite and take some profits there but.
Going forward nice yeah very slow painful Malays and that is -- shining -- And a and a lot of people have yet to feel that payroll tax cut and when they do it's not going to be pretty Kristen Benz PMG group executive director.
Thanks -- -- --
