Amazon’s EBT economics.. Amazon and other ecomm giants add food-stamp-friendly options as more Americans struggle to pay.. Buy now, pay later..
Payment problems… As a global recession looms, e-commerce giants are launching more affordable payment options — because more shoppers need them. Americans burned through their pandemic savings faster than anticipated this year as prices surged at the fastest pace in four decades. With consumers further tightening their belts, online retailers are trying to make shopping more accessible..
Poverty is making a regrettable rebound. US poverty plummeted to record lows during the pandemic thanks to massive government stimulus. Now that federal aid has dried up and many pandemic benefit programs have disappeared, experts predict US poverty could soon hit a 50-year high.
Inflation-adjusted spending at stores and restaurants has dropped since April..
Shoppers who can’t pay for gas and groceries up front are racking up “buy now, pay later” late fees, and even defaulting on their loans..
Companies like Amazon want to keep customers spending, even during hard times. Industry titans can actually boost their market share during recessions by keeping prices low (they can afford to): that’s what McDonald’s did in 2008. Amazon may be next: research suggests Americans are more likely to cut food spending than cancel their Prime subscriptions.
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#amazon #ebt #foodstamps
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