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Inflation is at a 40-year high and consumers have less confidence to spend than in recent memory, according to a new First Sight report, The State of Consumer Spending: Inflation Impacting Consumer Confidence. The report revealed that 97 percent of consumers are reprioritizing how they spend.
Industry experts say opportunity awaits the retailers that truly hear and respond to customer concerns, especially for Millennial and Gen Z.
Equally revealing was the discovery that nearly three-quarters of the consumer respondents value product sustainability over brand name.
Press release content from Business Wire. The AP news staff was not involved in its creation.
One in three shoppers said they plan to ditch traditional wrapping paper for environmental reasons this holiday season, according to a survey by Accenture.