13
While the percentage of those planning to slightly increase spending rose from 7% to 11%, the slightly increased
spending category has decreased from just over 6% to around 4%.
Significantly decrease spending
Spend about the same amount
Slightly decrease spending
Slightly increase spending
Significantly increase spending
7%
29%
31%
51%
31%
7%
11%
6%
4%
23%
0% 20% 40% 30% 10% 60% 50%
How much are you expecting to adjust your household consumer spending
habits over the next 12 months as compared to the previous 12 months?
Last year
This year
Overall, the message is clear: Consumers plan to cut back
on spending next year. A significant uptick is observed
in those planning to significantly decrease spending in
2024 compared to this year, jumping from 7% last year to
23% this year, indicating heightened financial caution.
Further, the percentage of respondents expecting
to spend about the same amount has seen a sizable
decline, dropping from 51% last year to 31% in 2023.
