The economic crisis has hit the whole world. And to cope with rising prices, consumers have been forced to change some of their daily habits. Online polling agency Attest took a closer look at Americans’ behavior to better understand how the public has adapted to inflation.
To produce this report, Attest surveyed 2,000 people living in the United States during April 2023.
General findings
80% of Americans are feeling inflation. However, they are less concerned about their financial capacity than they were in 2022. According to Attest, this feeling of confidence could help boost consumption.
At a time when the world is going through an economic and climate crisis, consumers are making trade-offs.
“The amount Americans can afford to spend on environmentally friendly products has decreased. Those determined to pay ‘a lot more’ have lost 4.7 percentage points to 7%, while those willing to spend ‘a little more’ have lost 5.2 percentage points to 14.5%,” explains Attest. “On a positive note, durable products remain in high demand, with almost half of buyers (43%) willing to spend a little extra.”
Faced with rising prices, 49% of Americans have decided to buy cheaper products (than those they usually use) to save money. This trend is on the wane.
Americans are still reeling from the financial crisis, but the signs of recovery are encouraging. They are starting to spend again, and are less shy about indulging themselves.
