Consumers’ perceptions of their personal financial situations play a role in influencing their purchasing behavior. Due to changing aspirations or priorities, or reactively, due to factors such as inflation, consumers are proactively adapting their spending behaviors on fixed and discretionary expenses. In our recent webinar on this topic, we shared that the largest proportion of consumers in North America region (33%) indicate that the amount they spend on groceries has increased over the past five years.
While consumers are often cost-conscious and look for bargains, they are willing to pay a premium for certain categories. North American consumers in are willing to pay a premium for meat/seafood (30%).
For more insights, download our Changing Consumer Prosperity report. The following infographic is also available for a global perspective, as well as for the Asia-Pacific, Europe, Latin America, Middle East & Africa regions.