Americans increasingly believe they’re cutting back on small-ticket purchases in order to save money, found Harris Interactive in a recent survey, and new data from Mintel suggests that of 13 major consumer markets in the US, there are only 2 where a greater proportion of consumers believe they’re spending more today than less. An accompanying audit from Mintel indicates, though, that consumer beliefs aren’t matching up with their actual behavior: spending has risen in each of those same markets, per the researchers.
With regards to consumer attitudes, the data would suggest that out-of-home alcoholic drinks would have taken the biggest hit, with a 47% point net gap in favor of those believing they’re spending less on this area over the past year. But, actual consumer spending in this area has grown by 6% over the past year. Read the rest at MarketingCharts.