Regional Consumers Weary of Rising Prices and Economic Stability, Spurring Delays in Large Purchases and Expected Decreased Holiday Spending
educating-myself | Read Time: 2 minutes
By WSFS Contributor | Published: November 2021
According to a new WSFS Bank Money Trends study, nearly half (49%) of Americans cite wanting financial stability as the reason why they are saving more now versus earlier in the pandemic and about 42% of Greater Philadelphia and Delaware residents agreed. However, inflation’s impact on prices and the overall economy has many of them preparing to spend less on gifts, dining and travel this holiday season.
The study, which surveyed 1,250 Greater Philadelphia and Delaware region consumers and 2,000 consumers nationally, measured current spending and saving trends and economic sentiment among adults ages 18‑55.
Check out the infographic below to learn more about the study’s key findings.
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