The State of Consumer Spending: Inflation Impacting Consumer Confidence

As inflation and prices continue to soar, consumers are losing confidence to spend. This surge is forcing consumers to change their shopping habits and prioritize spending. Businesses need to understand how inflation is impacting shoppers now more than ever to stay agile and be prepared to pivot as consumer behavior shifts.

In this report, you'll hear from consumers:

• Where they are noticing price increases
• How they are prioritizing their spending
• How their shopping behavior is changing
• What items shoppers are willing to continue paying for regardless of price increases
• How inflation is impacting their discretionary spending
• How long consumers believe these higher prices will last
• Specifically where consumers are cutting back on entertainment, grocery products, and apparel, footwear and accessories

Methodology

First Insight’s findings are based upon a survey conducted through its proprietary platform. The report is based upon a sample of 1000 U.S. adults fielded in April 2022. The sample was balanced by generation, region, and gender. Further details on the findings are available upon request.