In the post-pandemic era, the U.S. has seen a surge in live events and entertainment. PwC predicts that 2024 will bring in $68.7 billion in revenue from live events, including sports — this is an increase from 2019’s pre-pandemic $66.6 billion. Bank of America surveyed more than 2,000 people aged 18 or older and found … Read more
As the current economic landscape remains uncertain amid high interest rates and the high cost of living, some consumers are anxious during tax season, while others are hoping to receive refunds. In a recent report, Credit Karma published survey results looking at this year’s tax filing season. The survey conducted by Qualtrics on behalf of … Read more
After the pandemic hit in 2020, some business owners and households were hard hit financially as a result of lockdown measures. But at the same time, many Canadians saw their bank accounts grow because of their reduced spending. Those savings ballooned to over $300 billion and became so large that economists expected there would be … Read more
The Year of the Dragon may have signalled the return of the overseas Chinese tourist, with preliminary data from popular payment service Alipay showing an increase in transactions this year compared with 2019, the last time international borders were open before the onset of the pandemic. Alipay operator Ant Group, the fintech business affiliated with … Read more
Updated 4:07 p.m. E.T. Feb. 15 The reserve of spending strength that helped consumers hold on through the holiday season weakened last month. Year-over-year retail and food service sales growth slowed to 0.6 percent in January — the worst showing in the Census Bureau’s monthly reading of spending since May 2020. Compared with December, the … Read more
The U.S. economy grew at an unexpectedly brisk 3.3 per cent annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the U.S. Commerce Department said the gross domestic product — the economy’s total output of goods … Read more
As American consumers continue to worry about the economy and its unstable state of turmoil, new trends in consumer behavior in spending habits have emerged. Doom spending, or the act of spending money despite economic and political concerns, and “soft saving,” a flexible approach to saving money that prioritizes mental health and personal well-being are … Read more
Bolt, a leading checkout technology company, recently released its “2024 E-commerce Priorities and Predictions” report looking at the retail landscape for 2024. The company surveyed more than 100 decision-makers at U.S.-based e-commerce brands with revenues exceeding $100 million. Looking back at the 2023 holiday season, the report’s authors found that Cyber Monday broke single-day sales records of … Read more
What a difference a year makes. Heading into 2023, the talk was all doom and gloom and recession, with economists broadly expecting that the interest rate hikes needed to tame inflation would also send the economy into a tailspin. It wasn’t a great year, but it wasn’t a disaster. And now, as fashion moves into … Read more
Amid the rising costs of many everyday items, consumers rethought their spending habits and priorities when it comes to this year’s holiday shopping. The U.S. Bureau of Labor Statistics report titled “Consumer Price Index Summary” found that consumer spending on groceries has increased by 2 percent, the cost of shelter has increased by nearly 7 … Read more
