Value-seekers drove 2024's retail trends and dead ends

Value was in vogue in 2024.

Shoppers and restaurant patrons in the U.S. were choosy about where and how to spend their money as they wrestled with high housing and food prices.

Well-heeled customers traded down to Walmart and Aldi. Diners opted for fast food or home cooking instead of sit-down restaurants. Department stores struggled as buyers shopped online or at cheaper chains like H&M.

Residents also moved away from buying furniture or investing in expensive renovations, opting to refresh their homes with inexpensive items like frames and candles.