March 2024

Inflation is down significantly from its peak, and buying power in the US has increased each month since May 2023. Interest rates are expected to decline throughout 2024.

But do US &UK consumers feel good about the economy? What’s worrying them, and what are they doing to cope?

Here’s what people in the US & UK had to say.

Half of consumers are cutting back on expenses and spending

In US, two-thirds of consumers feel negatively about the economy

While in the UK, three-fourths of consumers feel negatively

Imagery reinforces negative emotions

via buzzback eCollage

buzzback eCollage elicits imagery and emotional associations via interactive online collaging

The stressors

Half are buying online - easy and less stressful

While there are similar themes between the US & UK, there are also differences.

Inflation & rising prices

Income or savings are not keeping up with inflation and rising pricing of:

Several feel frustrated, angry and stressed about their financial situation.

Government spending and policies

Criticism of the government for:

They feel betrayed, hopeless and scared about the future of the country.

Uncertainty and instability

Unknowns around:

Leaving them feeling nervous and anxious.

Anxiety and worry

Leaving them feeling scared, stressed, sad, and angry.

Inequality, lack of opportunities and fairness

Belief that the economy:

Some Americans feel oppressed, exploited and confined by the system.

How 30 – 40% of consumers minimize stress

Beyond minimizing stress, how consumers are self soothing

= Significantly Higher

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