Consumers have lived through five years of economic uncertainty and while retail sales have helped fuel the economic recovery, the experience has driven Americans to become more cautious and thoughtful as they make choices on what to buy, NRF President and CEO Matthew Shay said in a CNBC interview. It's an "either/or" economy, he said, in which people are choosing whether to spend on big-ticket items such as cars or other discretionary purchases because they still can't do both.

Related Summaries