Nearly half of consumers report spending about the same as six months ago
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American consumers continue spending at consistent levels, but many remain ready to cut non-essential expenses if economic conditions worsen.
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Confidence in personal finances is fading, with 23% expecting to be worse off in six months and 70% currently in debt.
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Budget-friendly travel and deal-focused holiday shopping mark a shift as 38% of Americans opt out of gift-buying altogether over the past two years.
Other than higher grocery prices, the July Consumer Price Index showed tariffs have yet to impact inflation. The inflation rate remained 2.7% in July, the same as in June.
Resonate, an AI-powered consumer intelligence firm, has analyzed how tariffs have affected consumer behavior and found that so far, the effects have been limited. The companys latest Consumer Trends Report highlights how American spending behaviors continue to evolve amid persistent tariff worries and economic pressure.
While ongoing tariffs remain a hot topic, most Americans have yet to feel their direct impact at store shelves. According to the report, 62% of consumers rarely or never struggle to find desired items due to tariffs. Nearly half (49%) report spending about the same as six months ago, and 30% haven't adjusted their habits despite rising prices. Additionally, 47% say they're not planning to delay or cancel any major financial decisions.
However, consumers are practical about future uncertainties. If economic conditions worsen, they're prepared to walk away from non-essentials: 37% will eliminate dining out or takeout, 26% plan to trim vacation spending, and 24% will stop entertainment purchases. Plus, 24% will cut back on luxury buys, with 19% avoiding them altogether.
Worried about the future
However, confidence in personal finances is trending downward. Although only 22% worry about the overall economy, a notable 19% decrease since March, a significant 23% expect to be personally worse off within six months.
With 70% of consumers burdened by debt, and 16% struggling to meet obligations, 34% admit they're saving less than they were half a year ago.
The report observes shifting travel and holiday spending patterns as well. A majority (55%) dont plan to travel for the coming fall or winter holidays. Among those who will, cost consciousness prevails: 32% intend to spend less than $2,000, resulting in shorter trips (21%), more domestic travel (11%), and more budget-friendly options like camping or road trips (13%).
Holiday gifting is also contracting. Over the past two years, the number of consumers opting out of present purchasing has risen by 38%. About 25% plan to shop exclusively during events like Black Friday and Cyber Monday in 2025, focusing on finding the best deals.
"Americans aren't pulling back yet, but tariffs have the potential to cause consumer behaviors to shift overnight, said Bryan Gernert, Resonates CEO. The brands that win won't just be focused on cutting costs, they'll drive growth by understanding why people buy and acting on it in real time, keeping customers loyal even in uncertain times."
Posted: 2025-08-13 11:31:29
