Table - Top Ways Consumers Are Responding To Higher Costs

Consumers are learning to live on a tighter budget and cut out unnecessary items, and that has implications for how retailers and manufacturers connect with them, says Nielsen in new survey results. According to the data, 64% of respondents have been affected by rising food prices and 58% by rising gas prices, with rising utility/energy bills (40%), health care costs (30%) and payroll taxes (23%) also affecting some. To cope with these “financial headwinds,” most are tightening their budgets and weeding out non-essentials. Read the rest at MarketingCharts.