[…] Only 17% of grocery shoppers say that they are loyal to a single merchant when buying food; that’s 20% for retail purchases. PYMNTS Intelligence data finds that in the last thirty days, consumers have either spent less (66%) or switched to cheaper merchants (54%) when making retail purchases, with 46% saying that the merchant with the best deal wins their business. This goes for high earners, too — more than half of whom (55%) say that they have traded down when making retail purchases, with 44% saying they traded down when buying groceries. […]