How are U.S. consumers addressing the changes in their cost of living? from section 145 2 of income tax act Watch Video

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✓ Published: 20-Jun-2024

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Nearly nine in 10 Americans have seen their cost-of-living increase over the past five years, and a new study has found it’s having a massive impact on how they’re shopping, particularly online.<br/><br/>The poll of 2,000 U.S. adults found consumers now spend the most on groceries (35%), clothing (27%) and home goods (17%) when shopping online. <br/><br/>Over three in four (76%) believe the underlying cause for cost-of-living increases is due to inflation, leading 61% of consumers to shift their online shopping habits. <br/><br/>Commissioned by Forter and conducted by Talker Research, the study showed people have addressed the changes in their cost of living by shopping less often (55%), buying only necessities (44%) and buying the cheapest version of the products they want (34%).