Consumers are spending more, but doing so in fewer transactions, according to American Express Business Insights' most recent Business Insights Spend Sights report. The study, which examines spending
patterns across several key categories, U.S. cities and demographic groups, finds that in spite of lower confidence consumers are still splurging but less frequently.
Ed Jay, SVP at
American Express Business Insights, said that value is top of mind for even affluent consumers but that "the occasional 'splurge' pattern also shows that while consumers try to practice restraint, the
prolonged economic uncertainty still cannot impede them from making a special purchase or two from the luxury brands that they love."
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