• by Ray Schultz , October 25, 2022

Rising prices are causing most consumers to be less confident about spending both in the U.S. and Europe, according to Inflation’s International Impact, a study by First Insight.  

Of the countries studied, Germany now has the most concerned consumers — 86% are less confident, versus 83% in the U.K. and 79% in the U.S.  

In the U.S., consumers feel the biggest impacts when shopping for groceries (67%) and gas (64%). And 43% see inflation when dining out, second only to Germany, at 46%. In contrast, only 31% apiece feel it in the UK and France. 

In addition, 84% apiece are feeling the pinch in Spain and Italy. 

In response to the situation, U.S. consumers are:

• Shopping for deals — 40%
• Staying within a budget — 42%
• Buying less overall — 29%
• Buying items out of season to save — 22% 
• Shopping online more — 24%
• Using more coupons — 24%
• Utilizing cashback perks more — 21%
• Shopping more at outlet stores — 18% 
• Purchasing more store brands/private label — 23%

U.S. consumers feel they get the most value online (44%), supermarkets (26%), department stores (20%) and independent stores (10%).

What drives a shopper to buy on a website? In the U.S., it is: 

• Discounts — 71% 
• Promotions — 50% 
• Discount code sites — 19% 
• Social media ads — 13% 
• Influencer collaborations — 11% 
• Newsletters — 7%  

Meanwhile, many consumers are concerned about their income/current job situation 

• U.S. — 48%
• U.K. — 48% 
• France — 54%
• Germany — 54%
• Italy — 63%
• Spain — 70% 

First Insight surveyed 1,000 adults each in France, Germany, Italy, Spain, the U.K. and the U.S. in September 2022.