Wed, 13 January 2021 | pandemic spending
As COVID-19 vaccinations continue across the nation, bringing hope to millions that an end to the pandemic is on the horizon, more than 8 in 10 Americans who plan to get vaccinated say they're planning a celebratory splurge for 2021.
That's according to a new report from LendingTree. However, not everyone is quite so ready to spend — 15% of people say that in the wake of the pandemic, they'll never feel financially secure again.
Key findings
Wed, 13 January 2021 | consumer expectations housing inflation
NEW YORK—The Federal Reserve Bank of New York's Center for Microeconomic Data released the December 2020 Survey of Consumer Expectations, which shows that median inflation expectations increased at the medium-term horizon, and remained unchanged at the short-term horizon. Uncertainty about future inflation increased slightly, remaining at an elevated level. Median home price change expectations increased sharply to its highest level since July 2018.
The main findings from the December 2020... Read More
Wed, 13 January 2021 | healthcare payments
Walgreens is expanding its financial services offering in partnership with Synchrony (NYSE: SYF) and Mastercard (NYSE: MA), as part of its ongoing commitment to offer differentiated healthcare services and benefits to customers. In the coming months, Walgreens will launch credit cards, issued by Synchrony, as well as a prepaid debit card, both of which will be powered by the Mastercard network.
The credit cards will closely connect with Walgreens new customer loyalty program, myWalgreens, which launched in November 2020, and cardholders will be able to receive myWalgreens cash... Read More
Wed, 13 January 2021 | global confidence
Global consumer confidence increased in the fourth quarter of 2020, driven largely by an improved outlook for personal finances—which, in many regions, reflect unprecedented fiscal measures in response to COVID-19. Prospects for jobs and spending intentions saw smaller improvements in Q4, according to The Conference Board® Global Consumer Confidence Survey.
Conducted in collaboration with Nielsen, the survey found that overall global consumer confidence climbed to 98 in Q4 2020, up six points from 92 in Q2 2020. A reading below 100 is considered negative, indicating that consumer... Read More
Tue, 12 January 2021 | women retirement
According to the latest Women’s Retirement Literacy Report from The American College of Financial Services, four out of five (82%) older American women report having a plan for retirement income. Yet the results reveal a staggering gap between women with an idea about retirement income options and the ones who have a formal, written retirement plan in place, which is just one in three of the women surveyed. The research also reveals nine in ten (94%) women with partners or spouses equally share or le... Read More
Tue, 12 January 2021 | payments
As the one-year mark of the Covid-19 pandemic approaches and digital payments play a larger role in daily life around the world, there will be no reverse gear on consumer behavior as we head into 2021. In the third edition of its global research study, the Visa Back to Business Study – 2021 Outlook, Visa found that the continued small and micro business (“SMB”) shift towards digital commerce will evolve in the New Year and bring an increased focus on areas such as security and frau... Read More
News and insights about consumer and demographic financial trends
The Hidden Cost of Idle Cash: What the Vanguard Survey Reveals About America’s Savings Habits
Consumers Growing Cautious Amid Rising Inflation and Economic Uncertainty
US Taxpayers Say Tax Refunds are a Financial Necessity
Consumer Pessimism Grows Despite Stable Long-Term Inflation Expectations
Economic Uncertainty and Inflation Impact Retirement Prospects for Americans
AARP Survey Reveals Alarming Retirement Savings Trends
Hispanic Consumers More Optimistic About Finances
Homeowners Facing Increasing Insurance Rates
U.S. Foreclosures Increase In First Quarter
Consumers Perceive Less Buying Power Despite Lower Inflation