Consumers report changes to spending habits in response to rising prices

Key stat: Almost half of adults worldwide (49%) have cut back on nonessential purchases over the last three months due to increasing prices for goods and services, per October data from Boston Consulting Group.

Beyond the chart:

• Over 55% of US grocery shoppers have started shopping based on discounts and promotions in the past year, according to a September 2024 study from Swiftly.
• Price increases for food away from home was up 3.8% YoY in October 2024, according to data from the US Department of Labor’s Bureau of Labor Statistics.

Use this chart: Marketers and retailers can use this chart to focus on enhancing their perceived product quality amongst consumers when pushing non-essential items and experiences.

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• Retail Trends to Watch in 2025 (EMARKETER subscription required)
• The Mobile Wallet Payments Opportunity (EMARKETER subscription required)