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Consumers Are Spending More, But Less Often

[ 0 ] Oct. 3, 2011 | SBO Editor

Consumers are spending more, but doing so in fewer transactions, according to American Express Business Insights’ most recent Business Insights Spend Sights report.

The study, which examines spending patterns across several key categories, U.S. cities and demographic groups, finds that while economic uncertainty continues to dampen overall consumer confidence, a new pattern of less frequent but measurable splurging has become evident among a range of customer groups in several categories.

“Spending patterns since the recession indicate that value is top of mind for consumers, even among the most affluent customers,” said Ed Jay, SVP at American Express Business Insights. “That said, the occasional ‘splurge’ pattern also shows that while consumers try to practice restraint, the prolonged economic uncertainty still cannot impede them from making a special purchase or two from the luxury brands that they love.”

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Category: Features