Consumer confidence rises, but Big Lots shoppers stay cautious

The Conference Board’s Consumer Confidence Index rose to 91.2 in June from a downwardly revised 90.6 in May, but the stronger headline masked a weaker reading on jobs on Big Lots sales floors. The share of consumers saying jobs were hard to get climbed to 22.5%, a five-and-a-half-year high, while the labor market differential fell to +2.4 points.

The June survey covered June 1 through June 23, a stretch when lower gasoline prices and a fragile truce in the Middle East helped lift sentiment. The gain came from better expectations for business conditions and household income, while labor-market expectations were unchanged.

On the sales floor, that caution usually shows up in smaller baskets, more trade-down behavior and sharper price sensitivity. Shoppers who feel less secure about jobs are more likely to ask about clearance, compare private-label options, wait for a markdown or leave discretionary purchases for later. At Big Lots, that can mean a customer buys detergent and paper goods but passes on home decor, seasonal items or other nonessential buys unless the price is right.

The pressure comes as Big Lots is still rebuilding after filing for Chapter 11 bankruptcy in September 2024. Variety Wholesalers acquired 219 Big Lots stores out of bankruptcy and had reopened all 219 by June 5, 2025, across Florida, Georgia, Kentucky, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia. The reopening effort led the company to explore additional Big Lots locations.