Rising inflation and stagnant incomes are forcing many Americans to reconsider their financial stability, prompting a surge in demand for personal finance advice. Economic headwinds are leaving people worried about their financial future, leading more individuals to seek planning support. The PYMNTS Intelligence report, “Navigating...
Consumers expect to see higher inflation in the year ahead and in the long run, according to preliminary results for the University of Michigan’s January Surveys of Consumers. Year-ahead inflation expectations “soared” from 2.8% in December to 3.3% in January, reaching its highest reading since...
Retailers across the U.S. are confronting a new era of cautious spending as consumers tighten their belts in response to ongoing economic pressure. Inflation, rising living costs and a backdrop of political and economic uncertainty have prompted shoppers to rethink their purchasing habits, sharpening their...
Last December, PYMNTS Intelligence detailed in its “Credit Card Use Deep Dive” report that about 14% of the more than 3,500 consumers surveyed had subprime credit scores. Those consumers tend to be tied to a FICO score below 670, as defined by the major credit...
Chain restaurant bankruptcies are reportedly at their highest level since the pandemic. Among the most recent examples is the casual dining franchise TGI Friday’s, one of more than a dozen high-profile eateries to seek bankruptcy protection between January and October of this year, Bloomberg News...
In recent years, digital wallets have become an essential tool for making online payments, but their uses are quickly expanding. In the U.K., nearly half of consumers (44%) expect to continue using digital wallets in the next three years, with Gen Z and millennials leading...
Headed into Black Friday, consumers are more positive than they have been in months. That’s among the takeaways from the latest reading of The Conference Board’s Consumer Confidence Index released Tuesday (Nov. 26). The November report came in at 111.7 and is at the top...
Zillennials, the generation born between 1991 and 1999, exhibit distinct shopping preferences, with a divide between those who prioritize price and those who stick to brand loyalty. These trends illustrate how younger consumers approach their retail experiences, particularly in the way they balance brand preferences...
Through the past few years, consumers in the United States, have collectively seemed to be an unstoppable force. They have spent through inflationary times, geopolitical uncertainty and while living paycheck to paycheck. There are signs, however, that the momentum may slow headed into the last...