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How US consumers’ sentiments and shopping behaviours are evolving, finds McKinsey

ConsumerGeniuses

ConsumerGeniuses

The Consumer Pulse Survey conducted by McKinsey revealed seven ways in which sentiments and shopping behaviours of consumers across America are evolving. 1, Inflation is unable to stop American consumers from buying goods from the market, they have spent 12% more than they were expected to spend in March 2022. 2, Despite inflation, consumers have spent more on cosmetics, pet food, and sports apparel as compared to experiences like traveling and going to public gatherings. 3, More American consumers are switching to different brands, mainly private-label ones, to spend within budget. 4, US consumers are happily shopping online even after the pandemic and consequently, e-commerce has grown 27% year-over-year in March 2022. 5, Consumers are buying food and nonfood items from both online and physical stores as per their convenience. 6, Although consumers have resumed their outdoor activities, one-third of participating consumers are still conscious of it. 7, ESG factors influence the shopping patterns of US consumers.

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