Credit card data shows spending has remained relatively strong, but price sensitivity is rising, especially among lower-income consumers. Travel and experiences continue to see solid demand, but big-ticket home purchases have weakened amid economic uncertainty. Restaurant traffic has struggled as consumers dine out less frequently, citing affordability concerns. Discretionary purchases are under pressure as inflation squeezes budgets and consumers prioritize essentials over items like apparel.
Category
🗞
NewsTranscript
00:00 It's Benzinga and here's what's on the block.
00:02 Credit card data shows that spending has remained relatively strong,
00:05 but price sensitivity is rising, especially among lower-income consumers.
00:10 Travel and experiences continue to see solid demand,
00:13 but big-ticket home purchases have weakened amid economic uncertainty.
00:17 Restaurant traffic has struggled as consumers dine out less frequently,
00:20 citing affordability concerns. Discretionary purchases are under
00:24 pressure as inflation squeezes budgets and consumers prioritize essentials over items
00:29 like apparel. Value-seeking behavior is on the rise as consumers trade down and
00:33 focus more on promotions to stretch their dollars. For all things money, visit Benzinga.com.