While U.S. consumer spending is climbing faster than expected—with the U.S. Commerce Department reporting that spending is rose at its fastest pace in three years--Nielsen reports that shopping habits are quite different by income level. Among households earning $100,000 or more, the number of shopping trips are up 5%, and the amount spent on each trip is up 4%, Nielsen's James Russo, VP/Global consumer insights at Nielsen, says in a presentation. But for all other households, both categories fell, with the declines steepest among those earning less than $20,000 per year.
And while young people tended to be the most optimistic, concerns about jobs remain No. 1 across all age groups.