Amid persistent financial strain for many U.S. households, a new report highlights how convenience services, often seen as time-savers, have become a focal point for household budgeting and spending adjustments. A PYMNTS report, “How Do Consumers Weigh Convenience Services Against Financial Pressure? It’s About Buying...
Consumer confidence got a rebound headed into summer. The University of Michigan’s June Consumer Sentiment Index, released Friday (June 27), recorded a 16% surge from May, marking its first increase in six months. The rise reflects a broad-based improvement across various facets of the economy,...
Getting married this summer? Know someone who is? A wedding dress will set you back on average $2,100, according to The Knot. While that’s roughly on par with prior years, the stasis may not last, due to the administration’s fluctuating tariff policy against most countries,...
For younger Americans in the Generation Z cohort, spending is out, while saving is reportedly in. That’s according to a report Tuesday (June 24) by the Wall Street Journal (WSJ), citing data from market research firm Circana showing that in-store and eCommerce purchases by 18-...
Recent research reveals that a significant portion of consumers regularly face substantial unplanned expenses, reshaping how financial institutions must approach credit offerings and consumer flexibility. The PYMNTS report, “Managing Unplanned Expenses: How the Pay Later Economy Fits Consumer Needs,” highlights the pervasive nature of unexpected...
Traditional 9-to-5 employment, and the bi-weekly paycheck, is no longer sufficient for a significant portion of the U.S. population, leading many to pursue alternative income sources known as side hustles. As PYMNTS Intelligence found in the recent “New Reality Check” report on the pressures of...
The tariff-induced spending splurge may have come to an end. In May, retail sales slipped 0.9%, adding to a revised 0.1% decline in April, according to the Census Bureau. And though the big-ticket items saw a retreat, key categories of discretionary spending declined as well,...
A fundamental shift in consumer financial behavior is redefining the landscape for banking institutions, revealing that even high income doesn’t guarantee proactive money management when the economy gets tight. New research from PYMNTS Intelligence reveals that consumer financial management isn’t solely a function of income...
The most digitally-native cohort is rapidly reshaping the financial services landscape. With their purchasing power projected to reach $12 trillion in just five years and a staggering $84 trillion in assets by 2045, GenZ represents an undeniable force for banks worldwide. However, their unique behaviors...