Consumers remain anxious about the economy, but they are still spending while preparing to adjust habits if conditions worsen. Holiday shopping is starting earlier, with discounts and free shipping driving decisions, and it’s younger shoppers who are more likely to engage in “doom spending.”
Key Takeaways
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Widespread concern, rising spending: Despite 85% of consumers voicing concern about the economy, younger cohorts are spending more on non-essentials.
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Shift in shopping strategies: Most shoppers plan to wait for sales, switch to cheaper alternatives, or cut back on purchases if economic pressures persist, with millennials most willing to change retailers.
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Holiday shopping starts early: Nearly six-in-10 consumers will begin holiday shopping before Black Friday.
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