Anthony is a partner with Deloitte & Touche LLP and serves as Vice Chair and Deloitte US Consumer Industry leader. Previously, he led our Advisory Consumer industry and Finance Transformation practices and was a member of Deloitte’s cross-business Finance Transformation leadership team. With nearly 30 years providing services to multinational clients in the consumer products, transportation, hospitality, retail and distribution sectors, he focuses on assisting clients with transformational initiatives involving the development and/or evaluation of finance operations and programs designed to improve financial integrity, compliance and operational effectiveness and efficiency. Anthony also serves as a lead business partner and advisory partner for a select group of strategic global consumer clients.
He’s a thought leader and has co-authored several pieces on consumer trends and marketplace shifts, as well as, the evolving role of the corporate controller. Across Deloitte, he is known for teaming & inclusiveness, driving collaboration in industry transformation efforts, and leading Finance Transformation integrated market offerings.
Steve is the managing director of Deloitte's Consumer Industry Center, Deloitte Services LP. He leads a team that conducts research to uncover new ways of thinking, working, and leading within the consumer industry through data and evidence driven analysis.
With more than 20 years of experience within consulting and high tech, Steve is especially interested in the intersection of technology, consumers, and business. He is focused on how industry leaders can deliver better results and the strategies organizations use to adapt to accelerating change.
Key insights about US consumers from Deloitte’s ConsumerSignals
Deloitte’s financial well-being index rose for
a third consecutive month, reaching a four-year high of 102.6 in July 2024 (figure
1).
Higher-income Americans appear to be driving the
recent improvements in financial sentiment. Since September 2022, the
percentage of higher-income respondents who say their financial situation
improved over the past year increased by 13 percentage points to 77%; however,
sentiment remains lower or relatively unchanged among middle- and lower-income
respondents (figure 2).
Despite rising optimism about personal
finances, discretionary spending intentions remain subdued, while non-discretionary
categories surpassed 2021 levels with savings intentions nearing them (figure
3).
Spending intentions for housing continue to
climb and consumers may be in search of potential cost-saving opportunities in
other categories (figure 4).
Respondents continue to prioritize leisure
travel (figure 4).
Notes: In figure
1, Deloitte’s financial well-being index is measured across six dimensions of financial health: (1) confidence
in the ability to meet current financial obligations; (2) comfort with level of savings; (3) income relative
to spending; (4) delays in making large purchases; (5) assessment of current personal financial situation
compared to prior year; and (6) expectations regarding personal financial situation for the year ahead.
Higher index values represent stronger financial well-being. Spending intentions represent respondent’s
estimated spending for the next four weeks. In figure 3, discretionary categories include leisure travel,
restaurants, recreation and entertainment, electronics, clothing, personal care, household goods, education,
child care, and home furnishing. Non-discretionary categories include housing and utilities, transportation,
groceries, and health care. Spending intention–related index values are represented by a three-month exponential
moving average.
Deloitte Insights | www2.deloitte.com/insights
Sources: US Department of Commerce; US Bureau of Labor Statistics; The Wall Street Journal (all sourced through Haver Analytics); Deloitte analysis.
Anthony is a partner with Deloitte & Touche LLP and serves as Vice Chair and Deloitte US Consumer Industry leader. Previously, he led our Advisory Consumer industry and Finance Transformation practices and was a member of Deloitte’s cross-business Finance Transformation leadership team. With nearly 30 years providing services to multinational clients in the consumer products, transportation, hospitality, retail and distribution sectors, he focuses on assisting clients with transformational initiatives involving the development and/or evaluation of finance operations and programs designed to improve financial integrity, compliance and operational effectiveness and efficiency. Anthony also serves as a lead business partner and advisory partner for a select group of strategic global consumer clients.
He’s a thought leader and has co-authored several pieces on consumer trends and marketplace shifts, as well as, the evolving role of the corporate controller. Across Deloitte, he is known for teaming & inclusiveness, driving collaboration in industry transformation efforts, and leading Finance Transformation integrated market offerings.
Steve is the managing director of Deloitte's Consumer Industry Center, Deloitte Services LP. He leads a team that conducts research to uncover new ways of thinking, working, and leading within the consumer industry through data and evidence driven analysis.
With more than 20 years of experience within consulting and high tech, Steve is especially interested in the intersection of technology, consumers, and business. He is focused on how industry leaders can deliver better results and the strategies organizations use to adapt to accelerating change.