Will Inflation Amplify The Consequences Of Holiday Spending?

But a closer look at the data shows that consumers feel shaky about future purchases. This week, only 43% of respondents reported being more comfortable making a major purchase than six months ago, a drop of 5 points from two weeks ago. When it comes to other household purchases, 49% said they’re more comfortable—a decrease of three points from two weeks ago.

“People want to deliver a holiday for their family,” says Stephen Rogers, managing director of Deloitte’s Consumer Industry Center. “They de-link holiday spending from other financial realities they’re feeling.” They may find other ways to manage their costs, or use buy now pay later platforms or credit cards instead of trimming their holiday budgets, Rogers says.have returned to pre-pandemic levels, according to data from the Federal Reserve Bank of New York.

Rogers says that consumers can expect some price increases to stick around long after supply chain issues have improved. “At a certain point, consumers will say price increases are beyond reasonable,” Rogers says. Retailers may relent and lower prices, but are likely to wait for consumer cues to do so.

More affluent consumers who have been able to rely on income or investments during the pandemic are better prepared to absorb price shocks, while those in challenging financial situations may run up more debt, or have trouble paying their bills.Ipsos, which surveyed 964 respondents online on Nov. 30 and Dec. 1, provided the results exclusively to Forbes Advisor.

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