Despite persisting financial concerns, discretionary spending intentions hold steady.
Key insights about US consumers from Deloitte’s State of the Consumer Tracker
- The number of Americans concerned about their level of savings (54%) and credit card debt (45%), although easing slightly over the past month, remains elevated relative to 2020 and 2021 (figure 1).
- While inflation concerns remain high, the number of Americans citing higher prices for groceries and other categories in March (compared to the month before) decreased slightly for the first time this year (figure 2). According to Deloitte’s State of the Consumer Tracker, roughly four in five Americans cite concerns over rising prices for everyday purchases.
- Despite ongoing concerns around inflation and personal finances, discretionary spending intentions held steady over the past month (figure 3).
- Leisure travel booking intentions hit a pandemic-period high, suggesting the influence of COVID-19 on purchase decisions continues to wane (figure 4).