Poll Shows Consumers Cutting Back on Discretionary Spending Amid Inflation Concerns

Within the context of a survey about how consumers manage their money, Momentive and CNBC got feedback from around 4,000 consumers about their current inflation concerns.

A few key points:

  • 48% of consumers (and 55% of those with lower than average household incomes) think about rising prices all the time.
  • The biggest source of stress is rising gas prices (21%), but housing costs (16%) and food (13%) are also a big concern.
    • Very few are concerned about losing their job (4%) and hardly any are worried about rising childcare costs (2%)
  • As a result, 53% of consumers have already cut back on dining out; 35% have canceled a monthly subscription and 29% have canceled a trip or a vacation.
  • If things continue at this rate, 40% say that they will consider canceling a trip or vacation and 26% will delay a major purchase.

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Carousel Insights is a marketing/research consulting practice focused entirely on retention marketing for out-of-home, location-based entertainment. All we do is help out-of-home experiences (both entertaining and educational) grow attendance, revenue, and customer lifetime value through insights, CRM/personalization, and revenue management.