Despite ongoing efforts to incentivize credit card usage through rewards programs, American consumers maintain a clear preference split for payment methods based on purchase type. They’re heavily favoring debit for routine expenditures while leaning into credit for travel-related spending, according to a recent report from...
Consumer confidence picked up in May after five months of decline, The Conference Board said Tuesday (May 27). The Conference Board attributed the rise to improvements in consumer expectations and the May 12 announcement of a pause on some tariffs on imports from China. “The...
Contrary to perceptions of financial irresponsibility, a significant portion of subprime borrowers actively and strategically use credit to improve their financial standing, revealing an underserved market segment with a strong desire for traditional financial inclusion. It’s one of the insights drawn from the recent PYMNTS...
New research from Bank of America (BofA) shows consumer spending slowing for all income levels. That data, released by the Bank of America Institute on Friday (May 9), shows that consumer spending on inessentials has been declining since the year began. “The gradual easing in consumer...
Americans have a bleak outlook about their financial futures, new Federal Reserve data shows. The latest edition of the Federal Reserve Bank of New York’s Survey of Consumer Expectations, released Thursday (May 8), showed that households had lowered their expectations for both wage growth and...
Digital activity is becoming nearly ubiquitous across the globe, though the intensity and nature of engagement reveal significant disparities linked to demographics, geography and infrastructure, according to a new report. In the latest edition of “How the World Does Digital,” PYMNTS Intelligence documents the digital...
Inflation is changing the ways in which we eat, whether buying food at the grocery store or dining out. The PYMNTS Intelligence Paycheck-to-Paycheck report titled “Navigating the Shifting Sands of Consumer Spending Amid Rising Prices and New Tariffs” found that, with the responses of 2,280...
Amid persistent financial pressures impacting a majority of U.S. households, the decision to spend on time-saving convenience services is increasingly subject to a stringent financial calculus, according to a new report from PYMNTS. The report, titled “How Do Consumers Weigh Convenience Services Against Financial Pressure?...
When the economy starts to get wobbly, the warning signs typically emerge in closely-watched measures: government indicators of declining economic growth, rising prices and depressed consumer sentiment indexes, falling earnings for retailers as pinched consumers stay away. One canary in the coal mine that’s less...