Home Retail Monitor

Consumers have already adjusted their spending in response to higher gas prices and inflation.

But additional changes are likely to come as they face the prolonged impact of these economic headwinds.

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Consumers' have made the following adjustments.

  • 69% have already cut spending on everyday items.
  • 67% plan reductions in discretionary spending.
  • 53% plan on deferring a major purchase, such as a car.

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How will this impact the home improvement category?

There is good news for home improvement: Home maintenance takes priority over other spending. Only 37% of respondents think they may cut spending on home maintenance.

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