Retail is a tough sell in the US right now as the cost-of-living crisis continues to bite, with the price of essentials like groceries and utilities still rising. According to analysts, we’re expecting “the highest long-term inflation expectation rate since 1995”.

Data from The Harris Poll shows that nearly two-thirds (61%) of US consumers say they’ve seen their grocery costs rise, and 60% expect tariffs to push them up still further. As a result, most (59%) are already bracing themselves for more increases. While consumers haven’t stopped shopping, they’re being savvier than ever. Gen Z, for example, are more likely (29%) than Boomers (22%) to buy second-hand for everything from cars to apparel. Overall, 43% of consumers plan to switch to lower-priced products, while 26% will switch retailers.

What does this mean for retailers with long-established strategies, customer bases, and price points? This report combines industry insight with exclusive benchmarking data from The Harris Poll to show the trends and areas of opportunity retailers should be capitalizing on today.

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