Consumer Behavior

Few consumers aim to spend more this year

Adobe Stock

February 13, 2023

A hefty number of U.S. consumers are concerned about the economic climate and the concerns are impacting 83% of consumers' spending habits, and just 12% are anticipating that their spending will increase in the next three months.

Those are findings from a Shopkick survey that polled 11,000 consumers nationwide in the last week in January, according to a press release.

Additional findings include:

• The majority (68%) cite the economy as the main reason they're tightening budgets.
• In September 2022, the majority of consumers planned to split their holiday shopping between online and in-store (71%). Now that the holidays are over, 78% are choosing to shop in-store, while 22% plan to shop online.
• When it comes to other priorities, consumers are focused on finding sales (47%), purchasing more generic brands (21%), relying on shopping and couponing apps to find deals (18%) and spending less overall (12%).

"Consumers are getting mixed messages around where the economy is headed, but they continue to be extremely wary of overspending and diligent about finding ways to save," Brittany Billings, EVP of strategic markets and marketing at Shopkick, said in the release. "Now more than ever, brands and retailers should prioritize finding ways to support shoppers, from offering deals and discounts to flexible shopping services to ensure consumers' loyalty and trust for the future."