The Chart
This infographic shows just some of the categories where consumers feel spending will decrease over the next quarter. See the data tab for the full list of categories.
3 Things to Know
- Most of the hardest hit categories are discretionary (aka considered non-essential). This includes categories like jewellery, decorations, and entertainment.
- Food is where a divergence occurs. This is mainly because groceries are a necessity (so consumers will buy despite high prices), but food from restaurants is considered discretionary, so consumers may be cutting back to save money.
- One-third of respondents anticipated spending more on gas, in part because summer months typically involve an increase in driving.
