Regardless of inflation slowing significantly from its mid-2022 peak, customers nonetheless expressed warning in November about overspending, given lingering uncertainty concerning the economic system and geopolitical tensions. Shoppers stated they’re planning to cut back their total spend, being extra selective within the merchandise they buy and locations they splurge. The next 5 charts spotlight the findings from our newest ConsumerWise analysis in the USA.
I’m very involved concerning the nation’s economic system, particularly over the past 12 months and the final three to 6 months. We nonetheless have very excessive gasoline costs. We nonetheless have very excessive costs for meals and companies and nearly every thing else, and it makes it more durable on people who find themselves retired.
Feminine, child boomer, West Virginia
I’ll be spending extra on necessities simply because costs are up. I don’t intend to purchase any greater than the same old, however with costs persevering with to alter, I simply predict I’ll be spending greater than I do now. That is the final method all costs are proper now, and I don’t count on it to alter or get higher anytime quickly.
Male, millennial, Kansas
If I’ve the choice to have the cash in my palms and be investing and utilizing it, I’m going to make my cash work for me. I don’t need it to only go towards a full cost immediately. If I’ve the choice, I’m going to make use of purchase now, pay later. That’s why I take advantage of bank cards. I don’t plan to have debt, and I ensure that there’s zero curiosity. That’s what I do.
Male, Gen Z, Florida
Will US shopper sentiment development up or down as we head into the brand new 12 months? What is going to that imply for producers and retailers as they finalize their 2024 methods? Watch this house for normal updates on the state of the US shopper. Try our ConsumerWise page, and make contact with us for knowledge from earlier updates, extra data, or further insights.