Consumers are expecting to spend more on groceries, utilities and education this year, and less on out-of-home occasions, holidays and clothing, according to data from NielsenIQ.
Groceries will see the largest increase in 2022, with a net change in consumer spending of 23%. Utilities (18%) and education (14%) also score highly.
The net change in consumer spending represents the % of consumers who plan to spend more minus the % who are intending to spend less. A positive value indicates more consumers will be increasing spend than decreasing. A negative value indicates a decrease in spend is more...