Rising prices are affecting American households, leading to reduced consumer spending. Despite a slight decrease in inflation, Consumer Price Index data showed that consumer sentiment has not caught up, impacting spending in industries that depend on tips. The PYMNTS Intelligence study “Tipping Over: Consumers Reducing...
Gen Z – don’t forget about them. While artificial intelligence (AI) is a mega-hot topic and tool these days and brands and retailers are pinning their hopes on the tool for success in 2024 and beyond, understanding a cohort of consumers who will only continue...
Millennials are one of the main classes of consumers for certain categories of products such as clothing, personal care and home spending. Though they don’t enjoy a digital experience as much as Gen Z consumers, who are considered the first fully-digital natives, millennials value receiving...
Globally, the increasing reliance on apps and connected devices has led to growing consumer demand for an everyday app that seamlessly integrates banking, shopping and personal activities. This demand is particularly strong in Europe, where nearly 38% of consumers express a strong interest in embracing...
Struggling consumers are relying on installment plans for common purchases such as groceries or restaurants to stretch their budgets and make ends meet. With fuel prices having reached a historic peak during the last year and a half, gasoline has become one of the most...
As consumers continue to see economic pressures eat away at their purchasing power, PYMNTS Intelligence indicated women are more likely than men to cut back on buying items at the grocery store that they do not need. By the Numbers The PYMNTS Intelligence study “Consumer...
Older consumers were able to maintain their purchasing power last year, mainly helped by an 8.7% jump in Social Security benefits that exceeded inflation. This was the highest increase in four decades, and it allowed seniors to maintain their standard of living despite the high...
In challenging economic times, accessing credit is vital for many individuals, particularly those living paycheck to paycheck. One form of credit that consumers often rely on is overdrafts, which serve as a safety net for individuals facing unexpected financial hiccups or temporary cash shortages. Unlike...
The trend of personalized offers and contextualized consumer experiences has emerged as a differentiating competitive factor across industries, from retail to media or travel experiences. As seen in the restaurant sector in 2023, merchants are adapting the personalized offers they make to better meet evolving...