As Inflation Still Persists, Consumers are Changing Their Behavior, Nazarian College Prof says
October 2, 2024
Eating out less. Pushing off that home purchase. Cancelling the monthly gym membership.
These are just some of the ways American consumers are trying to save money as they navigate increased everyday prices that have forced households to become more conscious about their purchasing decisions. That means searching for more deals, cutting back on some essentials or changing shopping habits altogether.
While inflation rates have leveled off from their 2022 peak, high costs are still affecting the day-to-day lives of most people, according to California State University, Northridge marketing professor Mariam Beruchashvili. That has caused many consumers to trade down and spend less, when possible.
“The truth is, Americans are feeling the pinch right now, especially in gas and food prices,” Beruchashvili said. “While costs have plateaued recently, consumers are still changing their behaviors, which includes eating even more often at home, trading down to cheaper products, and shopping at retailers’ consumers perceive are doing better at managing prices.”
For more of the media release: https://newsroom.csun.edu/2024/10/02/as-inflation-still-persists-consumers-are-changing-their-behavior-csun-prof-says/
David Nazarian College of Business and Economics News Archive