Inflation squeezes US consumer spending! But these platforms and categories remain popular

It is learned that according to foreign media reports, the US inflation rate reached a 40-year high of -7.9% in February. 72% of US consumers reduced their spending on consumer goods in the first quarter due to rising prices, and their interest in discounted goods increased significantly.

In addition, 38% of U.S. consumers cut back on overall spending in the first quarter due to rising inflation, and 34% reduced online spending, the highest reported decline in consumer spending in a year.

The data also shows that for American consumers, price surpasses quality, familiarity and sustainability as the main driver of brand loyalty, with 47% of consumers choosing a brand because of its low price. Another 47% only buy items that are on sale or discounted.

Despite this, American consumers are still willing to spend money in some categories. Due to home isolation, 50% of people are more willing to spend on household products than before the epidemic, and 62% and 61% of consumers have increased interest in self-care and cooking.

In addition, in the first quarter, the categories with the largest growth in US consumer spending also include pet supplies, clothing, and beauty and personal care. Amazon is still the preferred shopping website for Americans, followed by Walmart.com, eBay, and Target.com.

Editor ✎ Xiao Zhu/

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