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Chip Shortage Hits Spending Habits | Raleigh News
Memory chip shortages are driving up prices on nearly every gadget, but consumers aren’t rushing to buy ahead — a stark shift from past behavior. Apple’s Tim Cook called it a “hundred-year flood,” yet Best Buy’s CEO says shoppers aren’t stockpiling. McKinsey reports widespread plans to cut back on luxury and home goods, with 40-50% of buyers expecting reduced spending. While April saw a slight uptick in card spending, growth slowed toward the end, especially for discretionary items. The result? A tense standoff between rising costs and cautious wallets — and it’s far from clear how this will…
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