Latest news with #ConsumerPulse
Fibre2Fashion
12 hours ago
- Business
- Fibre2Fashion
Tariff worries drive US consumer pessimism to 4-year high: Report
Rising tariffs and cost concerns have led to growing financial worry among Americans. According to TransUnion's Q2 2025 Consumer Pulse study, 27 per cent of US consumers feel pessimistic about their finances over the next year—up from 21 per cent in late 2024 and the highest level since tracking began in early 2021. Despite the rise in pessimism, 55 per cent of consumers are optimistic about their household finances over the next 12 months – the same percentage as in Q2 2024. However, optimism has declined from 58 per cent in Q4 2024. The youngest consumers surveyed – Gen Z and Millennials – remain most optimistic about future finances, at 67 per cent and 64 per cent, respectively. The findings are derived from a survey of 2,998 American adults. 'Since early April, there has been a marked increase in the level of uncertainty about future costs primarily due to the ongoing discussions about tariffs,' said Charlie Wise, senior vice president and head of global research and consulting at TransUnion . 'While we've seen a rise in pessimism about future finances, it can't be overstated that the same percentage of Americans are as optimistic about their future finances today as they were at this same time last year. We posit this is happening because of the continued strong employment picture and sustained wage gains. If you have a job and feel like you're likely to get some form of pay increase over the next year, then you also will likely be able to manage through most possible scenarios for increases in the costs of goods and services.' TransUnion's Q2 2025 Consumer Pulse finds 27 per cent of US consumers are pessimistic about their financesâ€'the highest since 2021â€'amid tariff fears and rising costs. While 55 per cent remain optimistic, concerns over inflation, recession, and tariffs are growing. Younger generations are most hopeful, and many tariff-worried consumers plan to seek credit. Nearly nine in 10 Americans (87 per cent) reported some level of concern about the impact of current or possible tariffs on their household finances; 41 per cent said they were very concerned. To that end, the Consumer Pulse study found that consumers now have an increasing interest in securing credit products. Of those consumers who were very concerned about tariffs, 37 per cent planned to apply for new credit or refinance existing credit in the next year, a higher rate than all others (30 per cent) who planned the same. Liquidity credit products which provide access to cash, including credit cards and personal loans, appeared to be a greater preference for those who are tariff concerned. Specifically, this group is interested in increasing available credit on existing credit cards, applying for a personal loan and using buy now, pay later payment services. 'When there is uncertainty in the market, this often results in consumers seeking new credit to ensure they are prepared for any future financial hurdles. While it's not clear just how much of an impact tariffs will have on consumer wallets, it is clear that those consumers who are most concerned about them are more likely to be preparing for the future through myriad credit options,' said Wise. While inflation continues to be the top financial concern of Americans – 81 per cent ranked it as a top 3 concern in the next 12 months – there was a pronounced increase in fears of a recession. This metric jumped seven percentage points from Q2 2024 with 52 per cent saying it was in their top 3 financial concerns over the next 12 months — its highest level in two years. In Q4 2024, fears of a recession stood at 43 per cent. 'Fears of a recession should never be discounted. However, history has a way of repeating itself. To this end, consumers are being pragmatic and considering the news of the day. As tariff discussions bring uncertainty, so do increased fears of economic setbacks. Yet, just like we saw in the second quarter of 2023, there are a lot of positives about the economy and the consumer credit market at-large. One thing is certain – we should expect to see more shifts in consumer sentiment in the coming months,' concluded Wise. Fibre2Fashion News Desk (RR)
Associated Press
24-05-2025
- Business
- Associated Press
Buy Online, Avoid People? GoDaddy Survey Uncovers New Gen Z & Millennial Shopping Habits
Originally published on GoDaddy Newsroom TEMPE, Ariz., May 23, 2025 /3BL/ - A new survey by GoDaddy (NYSE: GDDY) found the latest quirky shopping habits Gen Z and Millennials have adopted are changing the landscape of commerce — with some possibly unintended consequences. In the latest GoDaddy Consumer Pulse* survey of 1,500 U.S. consumers, half of Gen Z (54%) and Millennials (50%) polled in March prefer shopping methods that allow them to avoid other people, like Buy Online, Pick Up In-Store, self-checkout or online shopping, over shopping methods that let them interact with others. Fewer than 1 in 3 (29%) Gen X and Boomers feel the same way. Younger consumers' priorities appear to starkly contrast with older generations. The new data shows night-and-day differences in the ways these younger generations shop. 'Gen Z and Millennials want to shop online from their phones and be left alone, which makes providing an automated, personalized, yet hands-off experience for consumers all the more vital,' said Alex Avramenko, head of commerce growth at GoDaddy. 'Is your online store truly mobile-friendly? Is it easy to find options for digital wallet payments or in-store pickup? These aren't just trends. Consumers have consistently shown their desire for simple, convenient ways to shop and pay will make or break a sale, and small businesses need to adopt this new vision of what doing business looks like.' The different generations do agree on some things. The data is clear—to capture consumer sales, small businesses need to sell online. This means businesses with a brick-and-mortar store need to sell both online and in-person. Small businesses that don't have an online store can tap into the power of AI and use GoDaddy Airo ® to build a website, generate a digital product catalog and more in minutes. For retailers looking for ways to provide more online conveniences, GoDaddy offers user-friendly smart point-of-sale terminals to enable younger consumer favorites like Buy Online, Pick Up In-Store and Tap-to-Pay. To learn more about GoDaddy and its products, visit *GoDaddy Consumer Pulse is a series of surveys of consumers ages 18 and above conducted throughout the year. About GoDaddyGoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services and accept payments. GoDaddy Airo®, the company's AI-powered experience, makes growing a small business faster and easier by helping them to get their idea online in minutes, drive traffic and boost sales. GoDaddy's expert guides are available 24/7 to provide assistance. To learn more about the company, visit Source: GoDaddy Inc. Visit 3BL Media to see more multimedia and stories from GoDaddy
The Independent
25-03-2025
- Business
- The Independent
Britons cutting back on everyday spending due to gloomy outlook on ‘worsening' UK economy
Britons are reducing their spending on everyday items amid falling consumer confidence in the economy ahead of the chancellor 's spring budget, according to a new survey. Rachel Reeves has ruled out ' tax and spend' policies in her spring statement on Wednesday, however, she is under pressure to increase taxes or cut spending to meet the financial rules she set in October. The Consumer Pulse survey from KPMG found three in five people think the UK economy is worsening, meaning that even financially secure consumers are cutting back their spending on everyday items. According to the poll, the number of people who think the economy is degrading grew by 15 per cent in the last three months to 58 per cent. The survey of 3,000 UK consumers explored their buying behaviour in the three months to February. Those feeling insecure about their finances grew from 21 per cent to 24 per cent from December to February. More than four in 10 said they are reducing their spend on everyday items and 36 per cent said they are saving more as a contingency. Nearly one in three people surveyed said they were deferring the purchase of big-ticket items. When she delivers her spring statement on Wednesday, Ms Reeves will be responding to new forecasts from the Office for Budget Responsibility made after the Bank of England reduced its forecasts for growth this year. Public sector net borrowing was £10.7 billion in February, £4.2 billion more than had been forecast by the OBR. Government departments have been asked to go through their spending line by line. Linda Ellett, Head of Consumer, Retail and Leisure for KPMG UK, said: 'Our research continues to show that while only a minority of consumers feel financially insecure, the majority feel that the economy is heading in the wrong direction.' 'Some may be taking this action as they prepare for higher costs, such as a new mortgage deal or the higher cost of travel,' she added. 'But other cautious consumers are certainly preparing for the potential impact on them from what they believe to be a worsening economy. This week's Spring Statement needs to give people the confidence in the longer-term UK economic outlook.'
