Price concerns alter US consumer shopping patterns: Report

May 30, 2023

Rising inflation in the US, which peaked at 8.5 per cent in March 2022, is impacting consumer behaviour and influencing brand choice and shopping habits. Footfall data across major brands has revealed that consumers are likely to change their shopping destinations and brand preferences based on cost considerations, as per a recent report.

Walmart was the only large-scale retail brand to have its footfall peak in the third quarter (Q3) of 2021, with traffic surging by 20 per cent compared to Q1 2021, according to the Q1 Consumer Trends Report by Gravy Analytics.

Brands such as Kohl’s, Target, and Macy’s experienced footfall below Q1 2021 levels during Q2 and Q3 2021. However, these brands witnessed a significant upswing in footfall during the final quarter of 2021, likely spurred by consumer spending during the winter holiday season.

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