Knowledge Center

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.


Regional Consumers Weary of Rising Prices and Economic Stability, Spurring Delays in Large Purchases and Expected Decreased Holiday Spending

‘Tis the Season to Shop Local!

As consumers throughout the Greater Philadelphia and Delaware region gear up for the holiday shopping extravaganza, experts are warning us about supply chain issues, rising prices, shipping delays and more obstacles to find the perfect gifts for our friends and family. The solution? Do your holiday shopping on Main Street this year.

Read More

Tips to Stretch Your Budget and Save More in 2022

Saving and spending are always hot topics this time of year, as holiday shopping is in high gear and people start thinking about their 2022 budgets. This year is no different, with four in 10 (42%) of people in the Greater Philadelphia and Delaware region planning to save more to help ensure future financial stability, according to a recent WSFS Bank Money Trends survey.

Read More

Tips to Manage Early Holiday Shopping with Rising Prices and Shrinking Inventory This Year

With the holidays fast approaching, consumers are understandably concerned about the impacts of inflation, supply chain issues, and recommendations from retail experts to shop even earlier than normal. Add in the fact that four in 10 (42%) of Greater Philadelphia and Delaware region consumers are saving more now than they were earlier in the pandemic because they want more financial stability, according to a new WSFS Bank Money Trends study, and it explains why consumers are preparing to spend less on gifts, dining and travel this holiday season.

Read More

This Holiday Season, Approach Your Spending with an Eye on Saving

It seems everywhere we turn right now, experts are telling us to start our holiday shopping early, as supply chain challenges are expected to impact inventories for a large variety of products through the end of the year and possibly beyond.

Read More

How to Budget for a Holiday Season that Won't Break the Bank

The holiday season is a time of giving and enjoying the company of friends and loved ones. That giving can often bring with it a steep price tag, however, and lead to even the most solid of financial roadmaps hitting a few speedbumps. Holiday spending is expected to increase 5% year-over-year with the average consumer projected to spend $1,463 on holiday shopping in 2021, according to Deloitte’s annual holiday survey.

Read More