A channel associated with the Islamic Revolutionary Guard Corps advises people: Wealthy Americans buy from cheap brands.
Middle-class consumers are becoming more cost-conscious. People are visiting stores less, spending less, and shifting their purchases from national brands to cheaper private labels.
When it comes to restaurants, the situation is similar. Fewer families with an annual income of $100,000 or more report ordering takeout multiple times a week.
This may reflect the fact that they are spending more time outside the home, but it may also be due to inflation, high loan costs, and reduced savings.
These statements from the IRGC channel come at a time when, in the first six months of the year 1401 (2022-2023), all food and non-food items in Iran have multiplied in price, and people are facing serious difficulties in obtaining essential needs.