Survey: Six-in-10 consumers planning budget cuts in coming months
Consumers are preparing for an economic downturn in the next year – with the vast majority planning on reexamining their spending.
More than two-thirds (68%) of Americans are expecting the U.S. economy to turn negative within the next six to 12 months, according to a new survey from Adtaxi. Twenty-one percent are predicting a mild slowdown, 20% predicting a classic recession, and 27% expecting a stagflation, with increased prices and inflation.
In response, three-quarters (76%) of adults intend to rethink their spending, with six-in-10 planning budget cuts, compared to just one-in-10 planning to spend more. High-ticket, non-essential categories will be first to be cut, with 71% of respondents claiming they will delay or cancel their purchasing plans on new homes and vehicles. Health and wellness and dining out are holding strong, with 67% and 46% of U.S. adults planning to continue spending in those categories, respectively.
[READ MORE: Consumer confidence falls in June on job market, economic worries]
Nearly nine-in-10 (88%) Americans expect to change their approach to shopping based on their expectations for the economy, with 27% planning to focus on essentials, and another 27% doubling down on finding the best deals.
Nearly two-thirds (62%) of consumers told Adtaxi they plan to increase their level of comparison price shopping in the coming months. Only 2% plan to splurge for stress relief.
“We have seen first-hand the shifts in consumerism in and out of times of economic uncertainty, including during the last recession and pandemic,” said Adtaxi director of research Murry Woronoff. “With consumer sentiment declining, brand messaging must recognize financial anxiety and promote messaging that couples optimism with cost-saving proof.”
Adtaxi’s survey was conducted online using SurveyMonkey among a national sample of 1,004 adults across U.S. geographic regions, income levels, genders and ages. The survey was conducted on May 29, 2025.
