New wave of study from AMC Global and OpinionRoute looks at how price increases impact current views on finances, economy and responsibility
— AMC Global Consumer Study
BLUE BELL, PA, UNITED STATES, August 17, 2023/EINPresswire.com/ — AMC Global, an international custom market research firm specializing in launch strategies and brand tracking, and OpinionRoute, a leader in insights process management, have released the latest wave of their consumer behavior study. This wave of the study looks at consumer attitudes about finances in the face of continued inflation, and what they think is responsible for the cost increases.
Building on the inflation impact data released last week that was trended to January 2023, this new wave, “Cost Increases and Consumer Concerns,” shows that monetary concerns are high among Americans—with more women than men concerned about the economy.
Consumers continue to recognize that prices are up compared to last year for CPG products. They blame manufacturers and ingredients (cost & availability) most for these increases.
Key findings from the latest study:
-More women than men are concerned about finances with 81% of women saying they are “really concerned about the U.S. economy,” compared to 72% of men. Seventy percent (70%) of women say they are “more concerned about their finances than ever,” compared to 58% of men.
-Ninety-four percent (94%) of consumers perceive price increases across CPG items.
-Consumers hold various entities responsible for price increases. More consumers under age 55 blame retailers (57%), government (48%) and consumer hoarding (22%), while more over 55 blame ingredient shortages (69%), transportation (59%) and weather (30%).
A complete representation of the “Cost Increases and Consumer Concerns” study can be found here. These insights were collected Thursday, July 29 – Monday, July 31 among a general population of n=1001 U.S. consumers age 21+. The findings from this ongoing study are designed to help clients and industry leaders navigate quickly changing consumer behavior.