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Consumers focus on saving

Wed, 02 September 2020  |  consumers 

Despite facing unprecedented economic challenges, over half of U.S. consumers report saving more according to a new survey conducted by The Harris Poll.

The survey reveals that, in particular, Gen Z and Millennial consumers are leading the way with over 60% of both generations reporting an uptick in savings. When thinking about the future, another 76% of consumers are somewhat likely or very likely to save more than they usually do each month.

With many consumers staying close to home, around 4 in 10 consumers reported spending more on groceries. A quarter are getting food delivered more frequently, and 22% have increased spending on books, games, apps and subscriptions during the same time frame.

Over forty percent (44%) of consumers have also increased their online shopping habits overall. But while many are changing what they purchase and how, the survey also reveals that 4 in 10 of consumers are making fewer impulse purchases, highlighting that many are being more deliberate about what they purchase.