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Yahoo
25-05-2025
- Business
- Yahoo
5 Ways Recession Fears Have Impacted America's Spending Habits
Fears of a looming recession have cast a shadow on the U.S. economy for much of 2025, largely due to President Donald Trump's wide-reaching tariff plans. Those worries eased somewhat following a recent trade deal between the U.S. and China that brought hopes an all-out trade war can be avoided. Be Aware: Find Out: However, many financial and economic experts continue to issue warnings of a possible economic slowdown — including J.P. Morgan. A month ago, the investment banking firm put the probability of a recession at 60%. It has since lowered that probability to a 'toss up,' Fortune reported. Even so, J.P. Morgan Chief U.S. Economist Michael Feroli warned in a note that 'recession risks are still elevated.' The prospect of a coming recession has already changed some of the country's spending habits, according to a new report from CouponFollow, which helps shoppers save money by offering verified coupon codes and deals from thousands of online retailers. CouponFollow surveyed more than 1,000 U.S. adults to gauge how they're responding to economic uncertainty in 2025. One thing it found is that more than half (56%) of Americans have already started cutting back on spending due to recession concerns. Here are five ways recession fears have impacted American's spending habits, according to the survey. While 56% of respondents said they have already cut back on spending to prepare for a recession, another 21% said they plan to cut back and 9% said they might. Items they have cut back on include clothes, travel, transportation, medical/dental care, streaming services and fitness memberships. Read More: More than four in ten Americans (43%) have either bought fewer groceries or limited quantities of the groceries they normally buy. Forty percent have switched to store-brand products, while 38% are using coupons or discount codes more often. Nearly two-thirds (62%) of Americans have dined out less often or ordered less takeout due to recession fears. More than half (54%) are cooking at home more often. More than one-quarter (26%) of those surveyed have been 'pretending' to spend normally, even though they're cutting back. Gen Z consumers are the most likely to do this, at 40%. In order to cover everyday expenses, 29% of Americans have withdrawn money from their savings over the past six months. Here's how it breaks down by generation: Gen Z: 28% Millennials: 28% Gen X: 33% Baby boomers: 21% More From GOBankingRates The New Retirement Problem Boomers Are Facing The 10 Most Reliable SUVs of 2025 Sources Reuters, 'Brokerages scale back recession odds after U.S.-China trade truce' Fortune, 'JPMorgan lowers its recession odds as Trump strikes a temporary deal to drop tariffs on China' CouponFollow, 'Recession Money Mindset Report 2025' This article originally appeared on 5 Ways Recession Fears Have Impacted America's Spending Habits Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-05-2025
- Business
- Yahoo
5 Ways Recession Fears Have Impacted America's Spending Habits
Fears of a looming recession have cast a shadow on the U.S. economy for much of 2025, largely due to President Donald Trump's wide-reaching tariff plans. Those worries eased somewhat following a recent trade deal between the U.S. and China that brought hopes an all-out trade war can be avoided. Be Aware: Find Out: However, many financial and economic experts continue to issue warnings of a possible economic slowdown — including J.P. Morgan. A month ago, the investment banking firm put the probability of a recession at 60%. It has since lowered that probability to a 'toss up,' Fortune reported. Even so, J.P. Morgan Chief U.S. Economist Michael Feroli warned in a note that 'recession risks are still elevated.' The prospect of a coming recession has already changed some of the country's spending habits, according to a new report from CouponFollow, which helps shoppers save money by offering verified coupon codes and deals from thousands of online retailers. CouponFollow surveyed more than 1,000 U.S. adults to gauge how they're responding to economic uncertainty in 2025. One thing it found is that more than half (56%) of Americans have already started cutting back on spending due to recession concerns. Here are five ways recession fears have impacted American's spending habits, according to the survey. While 56% of respondents said they have already cut back on spending to prepare for a recession, another 21% said they plan to cut back and 9% said they might. Items they have cut back on include clothes, travel, transportation, medical/dental care, streaming services and fitness memberships. Read More: More than four in ten Americans (43%) have either bought fewer groceries or limited quantities of the groceries they normally buy. Forty percent have switched to store-brand products, while 38% are using coupons or discount codes more often. Nearly two-thirds (62%) of Americans have dined out less often or ordered less takeout due to recession fears. More than half (54%) are cooking at home more often. More than one-quarter (26%) of those surveyed have been 'pretending' to spend normally, even though they're cutting back. Gen Z consumers are the most likely to do this, at 40%. In order to cover everyday expenses, 29% of Americans have withdrawn money from their savings over the past six months. Here's how it breaks down by generation: Gen Z: 28% Millennials: 28% Gen X: 33% Baby boomers: 21% More From GOBankingRates The New Retirement Problem Boomers Are Facing The 10 Most Reliable SUVs of 2025 Sources Reuters, 'Brokerages scale back recession odds after U.S.-China trade truce' Fortune, 'JPMorgan lowers its recession odds as Trump strikes a temporary deal to drop tariffs on China' CouponFollow, 'Recession Money Mindset Report 2025' This article originally appeared on 5 Ways Recession Fears Have Impacted America's Spending Habits
USA Today
12-02-2025
- Business
- USA Today
How much should you budget for Valentine's Day? Gen Z plans to the spend most.
How much should you budget for Valentine's Day? Gen Z plans to the spend most. Show Caption Hide Caption Watch now: Last-minute Valentine's Day gifts on Good Day NY Get same-day flower delivery and create a bae basket with Valentine's Day gift ideas from USA TODAY Shopping. See all these products on our Amazon live shopping event Feb. 11. Valentine's Day is a time to celebrate romance, love, Saint Valentine - and gifts. Americans in relationships plan to spend an average of $155 on Valentine's Day this year and Gen Z leads the pack, budgeting $235 for the holiday, with one in 10 admitting to overspending, a CouponFollow survey found. Men are twice as likely to feel financial pressure surrounding Valentine's Day as women, and women expect their partners to spend 25% more on the holiday than men, the survey found. However, respondents reported the gifts they most desire are those that are sentimental, not expensive. Clay Cary, a senior trends analyst for CouponFollow who helped design the survey said that people in their 20s spending the most on Valentine's Day was the most surprising finding. "It seems the younger you are, if you're in a relationship, the more pressure there is to make it memorable," Cary told USA TODAY. "Whether that's through spending a lot of money or through some handmade gift that took you hours." More: Shop Valentine's Day gifts: Last-minute deals you can order in time from Amazon How much do Americans spend on Valentine's Day? The survey found the average amounts people plan to spend on Feb. 14 vary widely by generation, with younger Americans planning to go all out for the romantic holiday this year in comparison to older people in relationships. Baby Boomers, age 61 to 79, and Gen Xers, age 45 to 60 are budgeting the least for the holiday, planning to spend $53 and $95 respectively. Millennials, age 28 to 44, plan to spend a significant amount more, budgeting $176. Adult members of Gen Z, or people age 18 to 29, plan to spend the most at $235. "That's the cohort most likely to be dating so maybe they feel more pressure versus people that are married," Cary said. Single respondents estimated they will save an average of $110 by skipping Valentine's Day this year. Most will use the money they would have spent on the holiday on daily expenses and bills or redirect it to their savings, the survey found. Best and worst Valentine's Day gifts Survey respondents reported the most desired Valentine's Day gifts are: Sentimental gifts such as handmade cards and personal experiences, with 38% saying they would like to receive those. Classic Valentine's Day gifts including chocolates and flowers, with 22% reporting that's what they'd prefer. Practical gifts, with 18% saying they would like to receive them. No gifts, with 14% reporting they wouldn't mind forgoing the present exchange altogether. Luxury gifts such as designer jewelry or clothes, with 9% saying they would like to get that type of present. Survey participants also reported their Valentine's Day deal breakers. They are: Clearly re-gifted gifts, with 25% labeling them a no go. No gifts due to forgetting Valentine's Day, which would upset 25% of respondents. Gag gifts, with 16% considering them a deal breaker. Generic gifts, which would bother 8% of participants. Gifts without monetary or sentimental value, which would be a deal breaker for 5% of respondents. Still looking for a Valentine's Day gift? USA TODAY has you covered with our favorite last-minute Valentine's Day gift ideas. Reach Rachel Barber at rbarber@ and follow her on X @rachelbarber_
Yahoo
30-01-2025
- Lifestyle
- Yahoo
Shopping at thrift stores is trendy. What are the best, worst cities to thrift?
Travis Lermusiaux has been shopping at thrift stores since before it was a trendy thing to do. Lermusiaux, 33, began thrifting when he was a young teenager. "A lot of my clothes were thrifted throughout my lifetime all the way up until now," said Lermusiaux. He thrifts for two main reasons: as a musician and guitar technician, Lermusiaux said his fashion style wasn't always what was available in regular stores. He has always had a particular love for '80s and '90s music and so what appealed to him vs his "peers wasn't really the same thing." Additionally, coming from a family with a lower income, "it was the easiest option to ... thrift to find what I liked," Lermusiaux said. Lermusiaux is far from alone. Thrifting has become the rage, across age groups, whether it's the thrill of the hunt or a desire to put less waste into the environment. Thrifting and the perception of thrifting have changed in recent years, said Marc Mezzacca, founder and thrifting expert at CouponFollow, which released a study of thrift shoppers. "Social media and increased eco-consciousness have been huge linchpins in the growing popularity of thrifting," Mezzacca told USA TODAY. "Thrifting is now touted as a means of sustainable fashion and offering exclusive, one-of-a-kind finds that cannot be achieved with fast fashion. It has also raised the cultural bar to make thrifting a default not only for budgeting but also for being a vehicle for personal expression and ethical consumerism." CouponFollow has noticed some differences in the last two years since it last surveyed thrift shoppers. In 2022, 85% of thrifters said they did so to save money, 42% said to save the environment and 40% said to find discounted high-end brands. This year, 88% of thrifters still said they were motivated by savings, but the second highest reason people thrifted was to find unique clothing (41%) and the third was finding "treasure" for 35%, who liked finding things they liked, despite them being discarded by others. The average annual savings reported by 1,000 thrifters who were surveyed, was $2,071 in 2024 compared to $1,760 in 2022. Thrifters who are in the Gen Zers said they saved on average $289 a month while millennials said they saved $160, Gen Xers said $134 and Baby Boomers $41, according to the survey. The younger generation has pushed thrifting for sustainability and "has just simply made thrift shopping a means of expression," said Mezzacca. Lermusiaux agrees that thrifting is more accepted. In years past, "a lot of people didn't just throw it out there that they thrifted all their clothes," he said. "It definitely was a little bit more frowned upon when I was an early teenager in high school. "But now I would say it's close to the exact opposite," Lermusiaux said. "There's different reasons for everyone, whether it's to make money or to save money... the culture of it is definitely much more accepting of someone who says 'Oh, I thrifted this whole outfit.' In fact, I think it's impressive to a lot of people when they say that." Lermusiaux goes to thrift stores anywhere from once a week to a few times a month. He can afford to buy new clothes now that he's older and works full time, but prefers thrifting. Sometimes fashion trends change so much that Lermusiaux said he doesn't feel bad if he spent $7 on a pair of baggy jeans that may go out of style soon versus paying full retail price. Lermusiaux has thrifted furniture and other goods, too, but mainly thrifts for clothes. There are a few things he won't buy that have been worn before however: "I don't do underwear or socks," he said. Lermusiaux also won't thrift white T-shirts since most aren't crisp white since they're used. Finding unique fashions and saving money are still Lermusiaux's main reasons for thrifting, but now that he thrifts with his fiancee, he appreciates that she loves being able to recycle and upcycle clothes to help the environment instead of always buying new clothes. However, the increased popularity of used goods may have a downside. Thrifters are reporting that prices at thrift stores are going up. Seventy-one percent of thrifters in the survey said they've noticed an increase in prices in the past year – something that wasn't expressed in the 2022 study – and 50% feel that thrift stores are becoming too expensive. "The heightened trendiness of thrifting has impacted prices," said Mezzacca. Demand has risen "and thrift stores are responding and raising prices, particularly on high-end or vintage items." The thrift resale market, where individuals are selling on third-party platforms such as Depop and Poshmark, "has also created a general assumption that thrifted items are highly valuable, and this has driven competition and prices up," he said. "Though this is indicative of the cultural shift to value secondhand items, it also causes issues for consumers who have shopped at thrift stores for affordability for so long," Mezzacca said. Lermusiaux said he's noticed prices have gone up, too. He said he's not sure if it's inflation or because thrifting has become more popular, though thinks it is both. "Back in the day, I could find a pair of shoes for five bucks that were amazing and that same shoe would be $30 on the shelf" today, he said. Lermusiaux said he's not bothered by the uptick of resellers of thrifted goods – and even follows several on social media and likes that they are helping to change the thrifting culture. "But there is that downside where you do feel like the secret's out a little bit," he said of the benefits of thrifting. Spot a treasure? How do I get the best out of thrifting? Expert tips to find treasures with a big payoff. CouponFollow used a mix of Yelp data on thrift, vintage and consignment stores, as well as flea markets in major U.S. cities, to determine the best and worst cities for thrifting. The criteria included the number or types of stores and Yelp rankings by affordability and popularity. New York City and Newark, New Jersey, were the best cities for thrifting while Long Beach and Irvine, California had the most affordable thrift stores. Los Angeles ranked No. 1 in the 2022 study but came in third this time. Here are the top 10 cities for thrifting: New York Newark, New Jersey Los Angeles Long Beach, California Oakland, California Arlington, Texas Irvine, California Jersey City, New Jersey San Bernardino, California Chicago Here are the bottom 10 cities, according to the latest CouponFollow survey: 100. Laredo, Texas 99. Lubbock, Texas 98. Anchorage, Alaska 97. Corpus Christi, Texas 96. Wichita, Kansas 95. Memphis, Tennessee 94. Madison, Wisconsin 93. Scottsdale, Arizona 92. Bakersfield, California 91. El Paso, Texas But if you don't live in a "top" thrifting city, that doesn't mean you can't find great thrift deals, said Mezzacca. "Smaller cities or ones that didn't crack the top 10 might still have amazing little secrets or specialty thrift stores that cater to very specific tastes.," he said. "These rankings serve just a snapshot of the vastness of thrift shopping as a whole, though; there's always hope for great finds anywhere, especially in unexplored places." Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at blinfisher@ or follow her on X, Facebook, or Instagram @blinfisher. Sign up for our free The Daily Money newsletter, which will include consumer news on Fridays, here. This article originally appeared on USA TODAY: Why is thrifting popular now? Best, worst cities to shop
USA Today
30-01-2025
- Lifestyle
- USA Today
Shopping at thrift stores is trendy. What are the best, worst cities to thrift?
Shopping at thrift stores is trendy. What are the best, worst cities to thrift? Show Caption Hide Caption How to thrift shop like a pro Shop like a pro at thrift stores with these hacks. ProblemSolved, Reviewed Travis Lermusiaux has been shopping at thrift stores since before it was a trendy thing to do. Lermusiaux, 33, began thrifting when he was a young teenager. "A lot of my clothes were thrifted throughout my lifetime all the way up until now," said Lermusiaux. He thrifts for two main reasons: as a musician and guitar technician, Lermusiaux said his fashion style wasn't always what was available in regular stores. He has always had a particular love for 80s and 90s music and so what appealed to him vs his "peers wasn't really the same thing." Additionally, coming from a family with a lower income, "it was the easiest option to ... thrift to find what I liked," Lermusiaux said. Lermusiaux is far from alone. Thrifting has become the rage, across age groups, whether it's the thrill of the hunt or a desire to put less waste into the environment. Thrifting is trendy now Thrifting and the perception of thrifting has changed in recent years, said Marc Mezzacca, founder and thrifting expert at CouponFollow, which released a study of thrift shoppers. "Social media and increased eco-consciousness have been huge linchpins in the growing popularity of thrifting," Mezzacca told USA TODAY. "Thrifting is now touted as a means of sustainable fashion and offering exclusive, one-of-a-kind finds that cannot be achieved with fast fashion. It has also raised the cultural bar to make thrifting a default not only for budgeting but also for being a vehicle for personal expression and ethical consumerism." CouponFollow has noticed some differences in the last two years since it last surveyed thrift shoppers. In 2022, 85% of thrifters said they did so to save money, 42% said to save the environment and 40% said to find discounted high-end brands. This year, 88% of thrifters still said they were motivated by savings, but the second highest reason people thrifted was to find unique clothing (41%) and third was finding "treasure" for 35%, who liked finding things they liked, despite them being discarded by others. The average annual savings reported by 1,000 thrifters who were surveyed, was $2,071 in 2024 compared to $1,760 in 2022. Thrifters who are in the Gen Z generation said they saved on average $289 a month while Millennials said they saved $160, Gen Xers said $134 and Baby Boomers $41, according to the survey. Why is it trendy to thrift now? The younger generation has pushed thrifting for sustainability and "has just simply made thrift shopping a means of expression," said Mezzacca. Lermusiaux agrees that thrifting is more accepted. In years past, "a lot of people didn't just throw it out there that they thrifted all their clothes," he said. "It definitely was a little bit more frowned upon when I was an early teenager in high school. "But now I would say it's close to the exact opposite," Lermusiaux said. "There's different reasons for everyone, whether it's to make money or to save culture of it is definitely much more accepting of someone who says 'Oh, I thrifted this whole outfit.' In fact, I think it's impressive to a lot of people when they say that." Lermusiaux goes to thrift stores anywhere from once a week to a few times a month. He can afford to buy new clothes now that he's older and works full-time, but prefers thrifting. Sometimes fashion trends change so much that Lermusiaux said he doesn't feel bad if he spent $7 on a pair of baggy jeans that may go out of style soon versus paying full retail price. Lermusiaux has thrifted furniture and other goods, too, but mainly thrifts for clothes. There's a few things he won't buy that have been worn before however: "I don't do underwear or socks," he said. Lermusiaux also won't thrift white T-shirts since most aren't crisp white since they're used. Finding unique fashions and saving money are still Lermusiaux's main reasons for thrifting, but now that he thrifts with his fiancee, he appreciates that she loves being able to recycle and upcycle clothes to help the environment instead of always buying new clothes. Prices are going up at thrift stores, shoppers say But the increased popularity of used goods may have a downside. Thrifters are reporting that prices at thrift stores are going up. Seventy one percent of thrifters in the survey said they've noticed an increase in prices in the past year – something that wasn't expressed in the 2022 study – and 50% feel that thrift stores are becoming too expensive. "The heightened trendiness of thrifting has impacted prices," said Mezzacca. Demand has risen "and thrift store are responding and raising prices, particularly on high-end or vintage items." The thrift resale market, where individuals are selling on third-party platforms such as Depop and Poshmark, "has also created a general assumption that thrifted items are highly valuable, and this has driven competition and prices up," he said. "Though this is indicative of the cultural shift to value secondhand items, it also causes issues for consumers who have shopped at thrift stores for affordability for so long," Mezzacca said. Lermusiaux said he's noticed prices have gone up, too. He said he's not sure if it's inflation or because thrifting has become more popular, though thinks it is both. "Back in the day, I could find a pair of shoes for five bucks that were amazing and that same shoe would be $30 on the shelf" today, he said. Lermusiaux said he's not bothered by the uptick of resellers of thrifted goods – and even follows several on social media and likes that they are helping to change the thrifting culture. "But there is that downside where you do feel like the secret's out a little bit," he said of the benefits of thrifting. Spot a treasure? How do I get the best out of thrifting? Expert tips to find treasures with a big payoff. What are the best cities to shop at thrift stores? CouponFollow used a mix of Yelp data on thrift, vintage and consignment stores, as well as flea markets in major U.S. cities, to determine the best and worst cities for thrifting. The criteria included the number or types of stores and Yelp rankings by affordability and popularity. New York City and Newark, New Jersey, were the best cities for thrifting while Long Beach and Irvine, California had the most affordable thrift stores. Los Angeles ranked number one in the 2022 study, but came in third this time. Here are the top 10 cities for thrifting: New York Newark, New Jersey Los Angeles Long Beach, California Oakland, California Arlington, Texas Irvine, California Jersey City, New Jersey San Bernardino, California Chicago What are the worst cities for thrifting? Here are the bottom 10 cities, according to the latest CouponFollow survey: 100. Laredo, Texas 99. Lubbock, Texas 98. Anchorage, Alaska 97. Corpus Christi, Texas 96. Wichita, Kansas 95. Memphis, Tennessee 94. Madison, Wisconsin 93. Scottsdale, Arizona 92. Bakersfield, California 91. El Paso, Texas But if you don't live in a "top" thrifting city, that doesn't mean you can't find great thrift deals, said Mezzacca. "Smaller cities or ones that didn't crack the top 10 might still have amazing little secrets or specialty thrift stores that cater to very specific tastes.," he said. "These rankings serve just a snapshot of the vastness of thrift shopping as a whole, though; there's always hope for great finds anywhere, especially in unexplored places." Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at blinfisher@ or follow her on X, Facebook or Instagram @blinfisher. Sign up for our free The Daily Money newsletter, which will include consumer news on Fridays, here.
