Where consumers are cutting back amid record inflation

#inflation #stocks #recession

Consumers are making some tough decisions on spending habits during record inflation now a new report from the national research group revealing some of the most surprising choices here over 40 percent of consumers saying that they have cut back on restaurant dining and also groceries over the past six months but get this that 18 there are only 18 are saying where

Consumers or that they are cutting back on streaming when you take a look at some of the satisfaction numbers dave within this survey 94 saying that they are very satisfied with the money that they’re spending on tv and streaming 95 saying that they’re satisfied with what they’re spending on amazon prime only 72 percent saying that they’re satisfied with what they’re

Spending on dating apps so those that are cutting some of their subscription services the first to go are the dating apps now if that makes sense to me i am shocked that streaming wasn’t higher on this list quite frankly with times of tough to last year or two it’s been one of the first conversations we’ve had at home about why do we have so many streaming service

When we watch so little television i expected most americans were starting to evaluate their streaming platforms because the prices continue to go up you have so many options and there’s not a lot of content that is really that sticky so that was a real surprise to me and rochelle what else shocked me is 17.8 percent of household budgets is spent on subscription

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Services now that doesn’t just mean streaming that does mean um like amazon and walmart plus products and services but that is an enormous number we are now committing to some type of subscription service another surprise from this study no i would agree and i think maybe well part of the reason why people aren’t willing to give those up it’s it’s steady you know

Exactly what the price is going to be every month whereas as we’ve seen with food inflation you don’t know what your groceries are going to cost when you go out to a restaurant you don’t know what the prices are going to be how much you’re going to have to tip so those prices are really going up so it’s it’s a lot harder to judge how much it’s going to be every

Time you come out whereas at least with streaming you have some consistency there you can consistently budget for that every month i’m not giving up my groceries and eating out but it depends on what your priorities are in life i would gladly cut out some streaming if it came to food but that but that is just me showed up on this list real quick i just wanted to

Add what we’re seeing on the screen was a huge surprise to me brands consumers most associate with subscription services in terms of media amazon at number two ahead of hulu disney and youtube where conversely when they asked consumers products and services subscriptions guess what didn’t make the top five amazon really so in the eyes of the consumer members amazon

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Is primarily media not products and services which is baffling to me that’s various there’s an amazon box on my doorstep just about every week yeah every day i actually have every week i actually associate it very differently i do associate with amazon with the products i mostly use it i’m on there every single day just place two orders actually this morning rather

Than their prime video service so that is an interesting twist here to this yeah it’s very surprising uh findings in this study

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Where consumers are cutting back amid record inflation By Yahoo Finance