Inflation changes American consumers' shopping habits! They spend more carefully!

It is learned that there is less than a month left before Black Friday, the biggest shopping day of the year in the United States. A survey from Debt.com shows that Americans will not reduce their consumption during this holiday season, but their purchasing behavior will change.

According to a survey by Debt.com, despite inflation and supply chain issues, Americans' interest in shopping has not diminished. Specifically, more than half (55%) of consumers said they would increase holiday spending. On the other hand, last year, 15.6% of people planned to spend $100 to $300, while this year the proportion is 18.5%; last year, 9.9% of people expected to spend more than $1,000, while this year it is 10.4%.

Many Americans are planning to shop earlier this year due to concerns about inflation, rising prices and insufficient product supply. The survey shows that 64% of consumers said they shopped earlier this year than last year. Among them, one-third started in October and 15% started in June.

Consumers' purchasing behavior has changed. They no longer pursue "low prices" blindly, but are more cost-conscious. 31% of people said they would reduce consumption to save money, and 34% said they would "buy fewer gifts with the same money." 18% said they would spend more money to buy high-quality gifts.

The survey also showed that American consumers are ready to face a debt crisis. Because of holiday spending, 45% of consumers expect to owe less than $100, more than 4% expect to owe more than $500, and nearly 5% expect to owe less than $1,000.

Don Silvestri, president of Debt.com, said Americans are less concerned about going into debt this holiday season than not being able to buy the gifts they want, as the supply chain is threatened with disruption as the economy heads toward recession.

Editor ✎ Nicole/

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