Abstract
In spite of rising energy prices, a turbulent stock market and an ongoing state of war, US consumers have continued to spend. While this spending has prevented the economy from slipping, it has come at the cost of decreased individual savings and increased personal debt. Mintel takes a closer look at how consumers are handling these changes in their economy.
With exclusive consumer research, Mintel explores:
- what consumers are doing to decrease expenses in reaction to rising gas prices
- who is most affected by interest rate hikes
- which consumers are saving less every year and why
- which demographics are more likely to splurge on extra purchases and how they finance these increased expenditures
- who is at the greatest risk from the current mortgage lending crisis
This Mintel report discusses consumer spending and saving habits in response to recent economic changes. Consumer confidence is analyzed in light of self-reported spending and saving habits to create a picture of the everyday consumers' attitudes toward and reactions to the economy.
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