Consumers are girding for inflation to settle in over the long haul. But they intend to keep spending. As reported on Monday (May 13), the Federal Reserve Bank of New York’s Center for Microeconomic Data detailed that, per the April Survey of Consumer Expectations, inflation’s expected to be higher one...
The latest data on personal consumption notes that spending is outpacing the growth in disposable income. And as a result, consumers are dipping into savings to keep their spending apace. The latest personal income expenditures (PCE) price index from the Bureau of Economic Analysis indicates...
Younger, affluent consumers are showing notable resilience when it comes to spending on experiences and travel — and using their credit cards to do so. To that end, Amex said Friday (April 19) that the majority of its account openings have been from Gen Z...
As retailers look to drive loyalty with high-income consumers, apparel and accessories emerge as a key point of entry for winning the biggest earners. The February/March installment of the PYMNTS Intelligence series “New Reality Check: The Paycheck-to-Paycheck Report: Why One-Third of High Earners Live Paycheck...
May 13, 2024
Consumers are girding for inflation to settle in over the long haul. But they intend to keep spending. As reported on Monday (May 13), the Federal Reserve Bank of New York’s Center for Microeconomic Data detailed that, per the April Survey of Consumer Expectations, inflation’s expected to be higher one year from now, slightly lower at the three year mark, […]
February 06, 2024
Len Covello, chief technology officer of Engage People, told PYMNTS in an interview that merchants are going to need to fine-tune, and in some cases overhaul, their rewards offerings. “Consumers have...
January 08, 2024
Consumers expect the punishing pace of inflation to decline in the months and years ahead. But they’re reigning in their spending plans, too — a possible sign that they’re looking...
October 06, 2023
In today’s consumer-driven society, it is not uncommon for individuals, even those living paycheck to paycheck and struggling to pay bills, to indulge in occasional splurges. These splurges, often involving...
July 19, 2023
Payments platform Airwallex says it is helping FinTech Brex with its worldwide expansion. “In today’s economic climate, every business is navigating two competing interests: expanding operations and saving costs,” Jack Zhang, co-founder and CEO of Airwallex, said in a Wednesday (July 19) news release. “Traditional banking solutions,” Zhang added, “make that nearly impossible as global […]
October 30, 2022
Rising interest rates and energy costs have forced consumers in Europe to start reducing their discretionary spending. As The Financial Times (FT) reported Sunday (Oct. 30), spending on cars, movies...
October 07, 2022
Americans have made double-digit increases in their spending on travel, fuel and convenience, electronics and restaurants over the last year, Mastercard reported Friday (Oct. 7) in a press release about...
June 29, 2020
After spending years fine-tuning travel reward cards, banks have found that the coronavirus pandemic decimated all the effort by reducing the need or will to travel, The Wall Street Journal...
