Government data confirms what consumers already know: Market and Main Street stabilization may be further off than previously thought. The Bureau of Economic Analysis (BEA) released its Q1 2023 GDP advance estimate report Thursday (April 27), and the numbers indicate a tumultuous economic landscape may...
Unsurprisingly, restaurant aggregator adoption is smaller among lower-income consumers, but special offers can help shift this. By the Numbers Research from PYMNTS’ new exclusive report “Connected Dining: Third-Party Restaurant Aggregators Keep the Young and Affluent Engaged,” which draws from a March survey of nearly 2,300...
Connect the data dots and a story emerges — where the Fed’s Beige Book hints at what to come. And what’s to come looks to be a slowdown in consumer spending. The central bank’s latest offering covers March, and states that “overall economic activity was...
This installment of PYMNTS’ miniseries based around consumer spending patterns focuses on the travel sector. Getting away from it all has been one of the last discretionary items consumers are forgoing in their ongoing battle to combat inflation. This reluctance highlights the importance of travel...
This next installment of PYMNTS’ miniseries based around consumer spending patterns focuses on the luxury retail sector. One would think that as consumers pull back on pricier purchases such as electronics and other appliances amid bargain-seeking behavior, the luxury retail sector would be feeling the...
Consumers are feeling slightly better about the economy but are uncertain about inflation. Consumer sentiment about the economic environment inched up by about 2% in April, according to preliminary results from the University of Michigan’s monthly Surveys of Consumers, which were released Friday (April 14)....
PYMNTS data finds millennials may tip more than other diners, but it’s hurting their loyalty. By the Numbers Research from PYMNTS’ study “Connected Dining: Inflationary Pressure Squeezes Restaurant Tips,” which drew from a survey of more than 2,200 U.S. consumers, found that millennials are the...
As the business world looks for new ways to court millennials and Gen Z, baby boomers get somewhat overlooked, and that’s a missed opportunity given their economic profile. The view of baby boomers — born between 1946 and 1964 — is changing as the image...
PYMNTS research finds consumers are putting deals first when it comes to grocery shopping. Despite inflation’s incremental, uneven shift down, consumers remain wary about when prices will begin to ease for essentials such as food, which still costs 10.2% more than it did a year...