Numerator continues to track purchase data and survey verified buyers to understand shifts in consumer behavior. The company's monthly Consumer Sentiment Study keeps a pulse on how consumers are feeling about the economy, the pandemic and other emerging market influences. Here’s what was learned in the latest survey:
- Overall consumer financial concern increased in April. 61% of consumers have a high level of concern regarding the economy, up four percentage points from last month
- Over the next few months, 41% of consumers say their primary concern will most likely be personal finances
- 69% of consumers feel as though the country is in an economic recession, and 68% believe it will worsen in the next few months (+4 points from March)
- 74% of consumers say rising prices on essential goods and services is their main economic concern, followed by rising prices on gas/fuel (67%)
- 28% of consumers are concerned about housing market stability and affordability
- Low-income consumers are concerned about government benefits scaling back (40%), while high-income consumers show concern about stock market stability (42%)
- Consumers’ spending discomfort for taking money out of personal savings or retirement accounts and splurging on premium or “luxury” items remains high (72% and 71%, respectively)
- Consumers are making spending cuts in response to rising prices. 41% anticipate cutting back on dining out, 38% plan to cut back on electronics and 37% anticipate cutting back on travel in the next few months
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