Consumers’ Spending Trends, by Category

Consumers are spending more on necessities such as groceries (55% spending more), utilities (45%) and healthcare (43%), with these being the three categories in which the largest percentage of survey respondents have increased their spending compared to a year ago, according to Gallup.

Meanwhile, the bottom categories in terms of increased spending are retirement investments (17%), consumer electronics (18%) and travel (19%), suggesting, Gallup says, that “Americans continue to spend more on things they need, but not on things they want.”

In fact, of the bottom 6 categories in terms of net spending trends (where more respondents report decreasing than increasing spending), 5 are discretionary:

  • leisure activities;
  • clothing;
  • consumer electronics;
  • dining out; and
  • travel

Interestingly, 32% of respondents report spending more on cable or satellite as opposed to 14% spending less. Frustration over pay-TV costs may be spurring cord-cutting, or at least, the drive towards à-la-carte pricing.

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